China's state-run Xinhua News Agency says the National People's Congress will open its annual session in Beijing on March 5.

Xinhua reported on Wednesday about the schedule following a decision made by the NPC Standing Committee.

President Xi Jinping and other senior members of the ruling Communist Party as well as nearly 3,000 regional delegates will attend the session, where key policies for the year are decided.

Premier Li Qiang is expected to report on government activities on the opening day at the Great Hall of the People.

The leadership decided earlier this month to implement a "moderately loose" monetary policy in 2025, signaling the country's readiness to shore up its flagging economy.

The focus of attention at the Congress is the economic growth target to be announced, as the country's economy is experiencing a slowdown. The target was set at around 5 percent for this year.

There are concerns that trade friction with the United States could escalate after President-elect Donald Trump returns to power in January.

Another focus is defense spending which has been increasing, as Beijing has been ramping up military pressure on Taiwan and continuing its maritime activities in the East and South China seas.