China "This Year's Economic Growth Target Around 5%"

China has set its economic growth target for this year at "around 5%."

According to major foreign media on the 5th, Li Keqiang (李克强), Premier of the State Council of China, announced this during the opening ceremony work report of the National People's Congress (NPC) held at the Great Hall of the People in Beijing. The target for this year's consumer price index (CPI) increase rate was set at around 3%.

[Image source=Yonhap News]

Last year, China set a target of "around 5.5%" but only achieved 3.0% growth.

This year, considering the normalization of economic activities following the abandonment of the "zero-COVID" policy and the base effect, it was expected that the growth target would be set in the range of 5.0 to 6.0%.