mandag 7. mars 2022

China sets lowest economic growth target in decades at annual meeting

China has set its lowest annual GDP target in decades, as premier Li Keqiang warned of a “grave and uncertain” outlook against the backdrop of the coronavirus, a slowing economy and the war in Ukraine. Li announced on Saturday the unusually modest target of about 5.5% growth for 2022 – the lowest since 1991 – in an address to about 3,000 members of the National People’s Congress in Beijing’s cavernous Great Hall of the People.

Li said the world’s second largest economy “will encounter many more risks and challenges, and we must keep pushing to overcome them”. He did not mention the ongoing war in Ukraine and its implications for the global economy.