Beijing plans higher research spending

China's government leader Li Keqiang opened this year's plenary session of the Chinese People's Congress in Beijing this morning. The main points are: stronger market economic reforms, accelerating research and development, strengthening smaller businesses, more domestic consumption, expanding the Belt and Road Initiative (BRI). At the same time, China plans to increase its military budget by 6.8 percent this year. That is 0.1 percent more than last year. In addition, Beijing wants to further restrict the leeway of the Hong Kong parliament.

Last updated: 24. July 2025