Local Agendas Set the Stage for National Priorities Ahead of the Two Sessions

Key Takeaways

• Local governments have adopted a more cautious economic outlook for 2025, and central policymakers are likely to follow suit with the national GDP target.
• Stimulating consumption has become the top priority for all levels of government, with provincial economic planners launching diverse stimulus initiatives in line with central government directives.
• Local governments are embracing top leadership’s emphasis on technology- and innovation-led growth by increasing investments in R&D and emerging technologies, such as AI.