NPC: Premier Li sets 5pc growth target for 2024
Premier Li Qiang on Tuesday projected that the nation’s economy will grow by about 5 percent again this year, as he delivered his annual work report at the start of the National People’s Congress session in Beijing. The GDP growth target is unchanged from the one set by his predecessor, the late Li Keqiang, last year.  Addressing delegates at the Great Hall of the People in Beijing, Li said the country's economy has made progress in the past year in terms of industrialisation and high-quality development. But he noted that there are still headwinds and "policy dilemmas" facing the economy.  "Globally, economic recovery was sluggish. And the external environment exerted a more adverse impact on China’s development,” he said. “Domestically, many difficulties facing our economic recovery and development had yet to be resolved, while deep-seated longstanding issues became more pronounced.” The Premier vowed to stabilise employment, with an urban jobless rate of around 5.5 percent and 12 million new jobs to be created. He set a target of 3 percent for consumer price inflation. Meanwhile, Li announced plans to issue ultra-long-term special treasury bonds over the next several years, starting with 1 trillion yuan of bonds this year.   The Premier also said the government would scrap the threshold for overseas investment in the manufacturing sector, and make it easier for foreign investors to live and work in China.  Looking ahead, Li said the nation would continue to deepen reform and boost internal momentum for development._____________________________
Last updated: 2024-03-05 HKT 10:09 