The majority of provinces, municipalities, and autonomous regions across China have set their 2025 consumer price index (CPI) target at 2 percent, one percentage point lower than the previous year, according to their government work reports.
Despite many uncertainties in both domestic and external markets, setting a lower CPI target is seen as more reasonable for local governments. They are striving to boost consumer demand through economic stimulus measures such as providing subsidies for new car and equipment purchases or offering coupons to consumers in major shopping malls, some officials said.