China sets this year's economic growth target at 'around 5%'
China’s government has set this year’s economic growth target at “around 5%” as it tries to rebuild business activity following the end of anti-virus controls that kept millions of people at home
BEIJING (AP) — China’s government announced plans for a consumer-led revival of the struggling economy as its legislature opened a session Sunday that will tighten President Xi Jinping’s control over business and society.
Premier Li Keqiang, the top economic official, set this year's growth target at “around 5%” following the end of anti-virus controls that kept millions of people at home and triggered protests. Last year's growth in the world's second-largest economy fell to 3%, the second-weakest level since at least the 1970s.
“We should give priority to the recovery and expansion of consumption,” Li said in a speech on government plans before the ceremonial National People’s Congress in the Great Hall of the People in central Beijing.
The full meeting of the 2,977 members of the NPC is the year’s highest-profile event but its work is limited to endorsing decisions made by the ruling Communist Party and showcasing official initiatives.
