China commits to 5% growth target despite unstable economy

March 6, 2024

As China faces multiple economic challenges, Premier Li Qiang told the National People’s Congress that Beijing will aim to maintain growth at around 5% per year. But many analysts warn that this may be too ambitious.

https://p.dw.com/p/4dEfJ

A worker in China checks stacks of cooling radiators — China’s manufacturing sectors have been declining over the past five monthsImage: Chinatopix/AP photo/image alliance

The head of China’s state planning body, Zheng Shanjie, told reporters on Wednesday that the country’s economic growth target of 5% is achievable. This comes a day after Premier Li Qiang announced the country’s growth target at the National People’s Congress (NPC), China’s highest legislative body.

More than 3,000 politicians gather in Beijing this week for the biggest political event of the year.

Source: DW

Lori

Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.

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