BEIJING - China will advance and expand its "AI Plus" initiative, promote faster application of new-generation intelligent terminals and AI agents, and encourage large-scale commercial application of AI in key sectors and fields, according to a government work report submitted Thursday to the country's top legislature for deliberation.

China will strengthen risk prevention and mitigation in key areas this year, according to the work report.

The country will work to stabilize the real estate market, take active and well-ordered measures to defuse local government debt risks, as well as take active and prudent steps to defuse financial risks, said the report.

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China will tap and unleash the potential of effective investment in 2026. A total of 755 billion yuan (about $109.26 billion) will be earmarked in this year's central government budget for investment, and 800 billion yuan raised from ultra-long special treasury bonds will be allocated to implement major national strategies and enhance security capacity in key areas.

China will also issue new types of policy-backed financial instruments with a total value of 800 billion yuan to stimulate greater private sector investment, according to the report.