March 6, 2021 | Issue 2021-13| Click to Subscribe
China targets GDP growth of over 6 pct in 2021
China aims to expand its economy by over 6 percent in 2021, building on strong tailwind from success in containing COVID-19, as lawmakers gather in Beijing to map out priorities for high-quality development.

The gross domestic product (GDP) target is one of the many key goals laid out in a government work report delivered by Premier Li Keqiang to the National People's Congress (NPC), the national legislature, which began its annual session on Friday, March 5.

Some other projected targets include:
  • Creation of over 11 million new urban jobs.
  • Surveyed urban unemployment rate under 5.5 percent.
  • CPI to increase at around 3 percent.
  • Deficit-to-GDP ratio at around 3.2 percent.
  • Drop of around 3 percent in energy consumption per unit of GDP.
  • Grain output of over 650 million metric tons.

In 2021, China will pursue high-quality development, advance supply-side structural reform, and consolidate and expand the achievements of the COVID-19 response and economic and social development, among other major tasks outlined in the report.

"In 2021, China will continue to face many development risks and challenges, but the economic fundamentals that will sustain long-term growth remain unchanged," Li said, noting the country has confidence in its economic recovery.
Consul General Zhang Ping on Twitter

"This year's NPC annual session is of particular importance as it will adopt the 14th Five-Year Plan and the long-term objectives through the year 2035, as well as other important legislations. China has set the target for this year's GDP growth at 6% and will endeavor to achieve a high-quality growth to bring the economic and social development to a new level and create a better life for its people."
Foreign investment, trade highlighted in Government Work Report
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