China Unveils Five-Year Plan for Tech Dominance

China's China===National People s Congress unveiled its Five-Year Plan, a comprehensive roadmap for the nation's economic and political future. President Xi Jinping's vision emphasizes technological dominance, with accelerated efforts in AI and quantum technology to achieve self-reliance amidst rivalry with the United States. The plan targets a 4.5%-5% economic growth rate, steady stimulus, and a 4.0% budget deficit. Defense spending will increase by 7% in 2026, aiming to modernize forces by 2035, with regional tensions over Taiwan as a backdrop. China will inject 300 billion China===Renminbi into state-owned banks to bolster its financial system. Social policies include building a 'childbirth-friendly society' to address demographic challenges, and grain production capacity will be raised to 725 million metric tons for food security. The government also plans to accelerate cuts in carbon intensity.