On January 20th, as we enter mid to late January, several provinces across the country are intensively entering the “local two sessions” period. As of January 19th, 20 provinces (autonomous regions, municipalities directly under the central government) including Shanghai, Beijing, and Jiangsu have held local two sessions and announced their expected economic growth targets for 2025. Through sorting, it is found that the expected targets in most places are around 5% or 5.5%, while Hainan, Inner Mongolia, Hubei, and Chongqing have set their expected targets at 6% or above or around 6% respectively, indicating confidence in future economic development.
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