What's the NPC's 2025 Legislative Agenda? Why a GDP Target of 'around 5%' is Needed - China Imposes Tariffs on Canadian Imports
Here are the reports on articles that I found worth reading in the People’s Daily on Sunday, March 09, 2025.
Page 1: The lead report today is about the third session of the 14th National People’s Congress (NPC), China's national legislature, held its second plenary meeting Saturday to deliberate work reports of the Standing Committee of the 14th NPC, the Supreme People's Court (SPC) and the Supreme People's Procuratorate (SPP). Below, I am only covering the NPC-related content. If you are interested, abstracts of the SPC and SPP reports are available on Page 4.
Zhao Leji presented the NPC’s work report. He said that:
In 2024, the national legislature deliberated 39 legislative items, 24 of which were adopted, including six new laws, 14 revised laws and 4 decisions on legal issues and major issues.
A total of 21 reports from ‘one government, one commission, and two courts’ were reviewed, the implementation of 5 laws was inspected, 2 special inquiries and 9 special research projects were organized, and 2 resolutions were made.
An excerpt of his report is available on Page 3. In terms of the legislative agenda of 2025, Zhao stated the following:
34 bills are scheduled for review in 2025. 2025年预安排审议34件法律案.
Improving the legal system of the socialist market economy:
Formulating the Private Economy Promotion Law
Formulating the National Development Planning Law
Formulating the Financial Law
Formulating the Financial Stability Law
Formulating the Cultivated Land Protection and Quality Improvement Law
Revising the Anti-Unfair Competition Law
Revising the Enterprise Bankruptcy Law
Revising the Agriculture Law
Revising the Fisheries Law
Revising the Civil Aviation Law
Revising the Banking Supervision and Management Law
围绕健全社会主义市场经济法律制度，制定民营经济促进法、国家发展规划法、金融法、金融稳定法、耕地保护和质量提升法，修改反不正当竞争法、企业破产法、农业法、渔业法、民用航空法、银行业监督管理法.
Advancing legislation in social and cultural fields:
Formulating the Law on Legal Education and Publicity
Formulating the Childcare Services Law
Formulating the Law on Social Assistance
Formulating the Prosecutorial Public Interest Litigation Law
Revising the Law on Prevention and Treatment of Infectious Diseases
Revising the National Common Language and Script Law
围绕推进社会、文化领域立法，制定法治宣传教育法、社会救助法、托育服务法、检察公益诉讼法，修改传染病防治法、国家通用语言文字法.
Improving the ecological civilisation system:
Working on the Ecological Environment Legal Code
Formulating the National Park Law
Formulating the Atomic Energy Law
围绕完善生态文明制度体系，继续推进生态环境法典编纂工作，制定国家公园法、原子能法.
Improving the national security system and public safety governance mechanism:
Formulating the Public Health Emergency Response Law
Formulating the Hazardous Chemicals Safety Law
Revising the Road Traffic Safety Law
Revising the Food Safety Law
Revising the Public Security Administration Punishment Law
Revising the Cybersecurity Law
Revising the Prison Law
Revising the State Compensation Law
围绕完善国家安全体系和公共安全治理机制，制定突发公共卫生事件应对法、危险化学品安全法，修改道路交通安全法、食品安全法、网络安全法、治安管理处罚法、监狱法、国家赔偿法。
Strengthening legislation in foreign-related fields
Revising Maritime Law
Revising the Foreign Trade Law
Revising the Arbitration Law
围绕加强涉外领域立法，修改海商法、对外贸易法、仲裁法。
In addition, lawmakers will be:
Focussing on strengthening legislative research in emerging fields such as AI, digital economy, and big data.
Revising the Organic Law of Village Committees and the Organic Law of Urban Residents Committees
Formulating a Law on Promoting National Unity and Progress
围绕人工智能、数字经济、大数据等新兴领域加强立法研究...其中，围绕健全全过程人民民主制度体系，修改村民委员会组织法、城市居民委员会组织法。围绕铸牢中华民族共同体意识、推进中华民族共同体建设，制定民族团结进步促进法.
In terms of supervision work for the year, he said that the NPC will focus on implementing the newly-revised Supervision Law, focusing on major decisions and deployments of the Party Central Committee. Zhao said that 37 supervision projects are planned. This includes:
First, assess the implementation of five laws including the Trade Union Law, Energy Conservation Law, Forest Law, Food Safety Law, and Circular Economy Promotion Law.
Second, strengthen supervision of financial and economic work, hear and review reports on plan implementation, budget implementation, central government final accounts, audit work, rectification of problems found in audits, financial work, state-owned assets management, government debt management, allocation and use of fiscal higher education funds.
Third, hear and deliberate special work reports on a range of topics:
Development of new quality productive forces
Promoting the deep integration of culture and tourism development
Promoting the transformation of scientific and technological achievements,
Establishing and improving the institutional mechanisms for urban-rural integrated development
Protection of rights and interests of flexible employment and workers in new employment forms
Ecological environment protection
Response to climate change and carbon peaking and carbon neutrality
Criminal penalty enforcement and its supervision
Maritime adjudication
Fourth, conduct special research on several important issues in the preparation of the 15th Five-Year Plan outline, the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, and strengthening overseas Chinese affairs legislation.
围绕大局做好监督工作。贯彻实施新修改的监督法，聚焦党中央重大决策部署和人民群众所思所盼所愿，坚持问题导向、效果导向，进一步增强监督工作的针对性和实效性。预安排37个监督项目。检查工会法、节约能源法、森林法、食品安全法、循环经济促进法等5件法律的实施情况。加强财政经济工作监督，听取审议计划执行、预算执行、中央决算、审计工作、审计查出问题整改、金融工作、国有资产管理、政府债务管理、财政高等教育资金分配和使用等情况报告。围绕新质生产力发展、推动文化和旅游深度融合发展、促进科技成果转化、建立健全城乡融合发展体制机制、灵活就业和新就业形态劳动者权益保障、生态环境保护、应对气候变化和碳达峰碳中和、刑罚执行、刑罚执行监督、海事审判等工作情况，听取审议相关专项工作报告。围绕“十五五”规划纲要编制工作若干重要问题、粤港澳大湾区建设、加强侨务立法等开展专题调研.
Back to the front page. There is a report about the ‘around 5%’ GDP target. It says that the target can be understood from three perspectives.
First, the aim of the target is to provide guidance and lead all parties to rationally view China’s economy and form positive expectations.
“The market economy is closely related to expectations. The ‘around 5%’ target reflects policymakers’ assessment on China’s economic trajectory and will significantly influence the expectations and confidence of domestic and foreign investors, state-owned and private enterprises, as well as producers and consumers. Since 2003, except for 2020, which was heavily impacted by the pandemic, China has set annual quantitative economic growth targets. From 2020 to 2022, the average annual growth was around 4.5%, with 5.2% growth in 2023 and 5.0% growth in 2024… In recent years, China’s economy has consistently been ‘on track’, and the ‘final results’ have been in line with expectations. Setting an economic growth target of ‘around 5%’ for 2025 is also a scientific assessment that balances short-term and long-term considerations, domestic and international factors, needs and possibilities, as well as favourable and unfavourable conditions, and reflects our firm confidence in the long-term positive outlook of the economy. This positive signal is conducive to stabilising social expectations, boosting market confidence, enhancing the willingness for investment, production, and consumption, and through all parties being ‘of one heart’ to ensure that the economy thrives.” 一是导向作用，将有力引导各方理性看待中国经济，形成良好预期。市场经济和预期紧密相关。“5%左右”反映了政策制定者对中国经济走势的判断，也会在很大程度上影响内资外资、国企民企、生产者消费者的预期与信心。2003年以来，除受疫情等影响较大的2020年外，我国均设定了年度经济增长定量预期目标。2020年至2022年，年均增长4.5%左右，2023年增长5.2%，2024年增长5.0%……近年来，中国经济始终“在轨运行”，“期末成绩”均符预期。2025年设定“5%左右”的经济增速，同样是兼顾当前和长远、国内和国外、需要和可能、有利条件和不利因素作出的科学判断，体现了我们对经济长期向好前景的笃定。这一积极信号，有利于稳定社会预期、提振市场信心，增强投资、生产、消费的意愿，通过各方“心心相印”促进经济“欣欣向荣”。
Second, it performs a traction role, which provides a ‘reference point’ 准星 and ‘anchor’ 锚点 for implementing macroeconomic policies.
“Economic growth is a basic indicator with strong connections. Among the expected goals proposed in the government work report, besides economic growth rate, there are also employment, prices, income, international balance of payments, grain output, energy consumption per unit of GDP, etc. Multidimensional indicators point to multiple objectives: stabilizing growth, preventing risks, benefiting people's livelihood, promoting transformation, and so on. Seeking dynamic balance among multiple objectives is precisely for the purpose of ‘effective improvement in quality and reasonable growth in quantity’. Expected goals ‘guide’ macroeconomic policies. In 2025, China’s economy still faces many difficulties and challenges. To achieve the goals, more proactive and effective macroeconomic policies need to be implemented. For example, fiscal policy should be ‘more proactive’, increasing fiscal expenditure intensity and raising the deficit rate. Also, monetary policy should be ‘moderately loose’, making the growth of social financing scale and money supply match the expected targets for economic growth and overall price levels. The same applies to employment, industrial, regional, trade, environmental, and regulatory policies. By anchoring goals and coordinating efforts, mobilizing a rich policy toolbox, the direction, strength, and rhythm of macroeconomic regulation will be more ‘reliable’, and the effects will be more powerful.”
Third, it plays the incentive role, which effectively mobilises enthusiasm for work and entrepreneurship across all sectors.
“A goal is the driving force for progress. If set too high, it may lead to ‘overheating’ and burnout; if too low, it may encourage a ‘lying flat’ mentality. The ideal state is one where the goal is ‘just within reach with a little effort’—and "around 5%" is precisely that. On one hand, it conforms to China's reality, conforms to the laws of economic development, and there is a foundation, conditions, and ability to achieve it. On the other hand, achieving the goal is not easy. Through comprehensive judgment and systematic deployment, this year's government work report has already provided a roadmap and task list for overcoming difficulties and moving forward. By facing difficulties head-on and working with vigour, activating every ‘cell’ and gathering every ‘ray of light’, the development potential of China’s economy will be further released.” 三是激励作用，将有效调动各方面干事创业积极性。目标是前行的动力。过高，可能导致“头脑过热”“累觉不爱”，过低又会滋长“躺平”心态。“跳一跳、够得着”，才是最理想的状态，“5%左右”就是如此。一方面，符合中国实际，符合经济发展规律，实现起来有基础、有条件、有能力。另一方面，实现目标也非轻而易举。综合研判、系统部署，今年政府工作报告已经给出攻坚克难再向前的路线图和任务书。迎难而上，奋发有为，激活每一个“细胞”，汇聚每一束“光芒”，中国经济的发展潜力将进一步释放.
Page 3: There are two reports on the China-Canada tariff tiff. Xinhua reports:
“China announced Saturday that it will impose additional tariffs on some products imported from Canada based on the ruling of an anti-discrimination probe. Effective from March 20, an additional 100-percent tariff will be imposed on imported rapeseed oil, oil cakes, and peas originating from Canada, while aquatic products and pork will be subject to an additional 25-percent tariff. The decision comes after China’s first anti-discrimination probe into foreign countries and regions, which found that Canada’s restrictive measures on certain Chinese products have constituted discriminatory restrictions that disrupt normal trade order and harm the legitimate rights and interests of Chinese enterprises. Last year, Canada announced tariff hikes on electric vehicles (EVs) and steel and aluminum products imported from China, prompting the Chinese side to initiate an anti-discrimination probe in September.”
The Ministry of Commerce’s spokesperson said that:
“after investigation, the relevant Canadian measures under investigation were deemed as constituting discriminatory restrictions, affecting the normal trade order and damaging the legitimate rights and interests of Chinese companies. China has decided to impose additional tariffs on some goods imported from Canada in accordance with the Foreign Trade Law of the People’s Republic of China, the Tariff Law of the People’s Republic of China and other laws and regulations. China urges Canada to immediately correct its wrong practices, cancel the restrictive measures and eliminate its adverse effects.” 发言人说，经调查，加拿大相关被调查措施构成歧视性限制，影响了正常贸易秩序，损害中国企业正当合法权益。中方决定根据《中华人民共和国对外贸易法》《中华人民共和国关税法》等法律规定，对自加进口部分商品加征关税。中方敦促加方立即纠正错误做法，取消限制措施，消除不利影响.