China targets 5% growth and increases defence budget to assert territorial dominance

China has set a growth target of 5 per cent for 2025 despite mounting American tariffs and announced a 7.2 per cent increase in its defence budget as Beijing continues to build a larger military to assert territorial claims in Asia.

Chinese premier Li Qiang announced the optimistic target on Wednesday and delivered the government's annual work report to the national parliament or the National People's Congress.