Global Markets
Home›Global Markets›China›China Politburo sets second-half priorities focused on…
China Politburo sets second-half priorities focused on AI and infrastructure
The Politburo meeting came as China’s Q2 GDP growth slowed to 4.3 percent, the weakest pace since late 2022.
China’s Politburo has set the country’s economic priorities for the second half of the year, emphasizing faster infrastructure development, a deeper push of the AI Plus strategy, and support for emerging and future industries, alongside upgrades to traditional sectors. The official readout framed the outlook around new growth momentum and improving economic structure rather than using language about a widening divide in performance across the economy, according to SCMP Economy.
The policy-setting meeting took place as China’s gross domestic product growth slowed to 4.3 percent in the second quarter, the weakest since late 2022. The backdrop reflects an increasingly K-shaped pattern, with strength in exports and fast-growing hi-tech areas, while domestic consumption is weak and investment is softening elsewhere, SCMP Economy reports.
SCMP Economy also highlights that the transition is being interpreted as a shift from old growth drivers to new ones, with advanced technologies including artificial intelligence expected to raise productivity across the broader economy.
In agriculture, China remains the world’s largest by output, at about US$1.3 trillion last year, employing 22 percent of the workforce. However, labor productivity in the sector is only about one third of the economy-wide average, underscoring the gap policymakers are aiming to close through structural change, SCMP Economy said.