The National People's Congress curtain rose on Sunday with Premier Li Keqiang’s annual report, which included the national growth target and a closely watched indication of the leadership’s policy on the economy. Clearly, seeking progress and maintaining stability will be the key principles this year. 

The annual government work report, delivered by Premier Li at the opening meeting of the annual session of the NPC, China's top legislature, set the GDP growth target at around 6.5 percent, or higher if possible in practice.

The target, which Li said is "realistic and in keeping with economic principles", is the lowest for more than 20 years for China. Nonetheless, China remains one of the world's fastest-growing economies. 

In the view of the Chilean Ambassador to China, Jorge Heine, there is a big potential for the growth of the Chinese economy. Temporarily slowing economic growth benefits the interests of the Chinese economic development.

“I would say the most sensational headline is the numbers that are coming out of the Chinese economic performance in 2016. They are discovered very well of what’s happening and Chinese economy is doing well. Four percent unemployment in urban areas is for a practical purpose, full employment 6.7 percent growth. Although the lowest something like 30 years is still very good. Over half of the GDP in the services sector is also very encouraging. So I think these numbers are testaments to a continuing strengthening of the Chinese economy despite the challenges it faces.”

Despite an increase in anti-globalization sentiment and attempts to reverse the trend, Li reassured that China opposes protectionism in its different forms, and will work toward a deeper and higher level of opening up in this spirit. Li said China will push ahead with the Belt and Road Initiative, for example, by accelerating the building of overland economic corridors and maritime cooperation hubs, and deepening international industrial-capacity cooperation. 

Vincent Lo, a CPPCC member, said: “It’s really such an important initiative for the whole world – it exactly re-balances the whole world. The Belt and Road Initiative covers 65 countries, 4.4 billion people, the population is 61 percent of the world, but the GDP is only 29 percent, so there is lot of upside and a lot of inequality. So what President Xi is promoting, I think it’s so critical for the world security and peace going forward. I believe it should not be just a China project because there is no way it can handle this on its own.”