China sets GDP growth target at 5.5% for 2022
Updated 11:06, 05-Mar-2022

China has set its GDP growth target at around 5.5 percent for 2022, Premier Li Keqiang said as he delivered a government work report to the opening meeting of the fifth session of the 13th National People's Congress in Beijing on Saturday.  

The other main projected targets for development this year include creating over 11 million new urban jobs, keeping the surveyed urban unemployment rate at no more than 5.5 percent, keeping the CPI increase – the main gauge for inflation – at around 3 percent and grain output of over 650 million tonnes. Li said the country would also target further improvements in the environment and continue to reduce the discharge of major pollutants.  

As the Chinese economy faces the triple pressure of shrinking demand, disrupted supply and weakening expectations this year, the premier stressed that the country must pursue progress while making economic stability as the priority. 

Li said the major tasks for this year are to "achieve stable macroeconomic performance and keep major economic indicators within the appropriate range, and keep the operations of market entities stable and maintain job security by strengthening macro policies." 

(Cover photo via CFP)

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