Numbers of Two Sessions: Top legislature holds news conference on the economy

The Press Center for the fourth session of the 14th National People's Congress holds a news conference on the economy at the Media Center's Press Conference Hall on Friday. Here are the highlights.

China's GDP is expected to grow by over 6 trillion yuan (about $869.6 billion) this year, Zheng Shanjie, head of the National Development and Reform Commission(NDRC), said on the press conference.

 

The size of China's service sector is expected to expand beyond 100 trillion yuan ($14.49 trillion) in the 15th Five-Year Plan period (2026-30), Zheng said, adding that the NDRC will work with other government departments to roll out a number of supportive measures to fully unlock the potential in the high-quality development of the service sector.

 

Measured by purchasing power parity, the scale of China's consumer market topped the world during the 14th Five-Year Plan period (2021-25), Commerce Minister Wang Wentao said on the press conference.

 

China's artificial intelligence (AI) related industries will be valued at more than 10 trillion yuan ($1.45 trillion) by the end of the 15th Five-Year Plan period (2026-30), Zheng Shanjie said on Friday, adding that the country will continue to advance its "AI Plus" initiative during the period.

 

Total market capitalization of A-shares has exceeded 110 trillion yuan ($15.9 trillion), said Wu Qing, chairman of the China Securities Regulatory Commission, at the press conference.

 

China has no need or intention to seek competitive edges in foreign trade through the depreciation of its currency, Pan Gongsheng, governor of the People's Bank of China, said on Friday.

 

China's six emerging pillar industries are expected to surpass 10 trillion yuan ($1.45 trillion) in total value in 2030, Zheng Shanjie said, adding that the combined output of sectors, including integrated circuits, aviation and aerospace, biomedicine, the low-altitude economy, new types of energy storage, and intelligent robots, approached 6 trillion yuan in 2025.