Growth target of around 5.5% to generate output equivalent to medium economy: Chinese Premier

Growth target of around 5.5% to generate output equivalent to medium economy: Chinese Premier

BEIJING, 11th March, 2022 – Chinese Premier Li Keqiang said on Friday that an increase of around 5.5 percent on the basis of over 110-trillion-yuan (about US$17.4 trillion) GDP in China today would generate the amount of output equivalent to the size of a medium economy.
Chinese news agency Xinhua quoted the Chinese Premier as saying that it is a hard problem, from a worldwide perspective, for such a big economy to maintain medium-high growth, at a press conference after the closing of the fifth session of the 13th National People’s Congress.
China accomplished major goals and tasks on economic and social development last year, laying a solid foundation for this year, according to the premier.
“The economy faces new downward pressure and challenges this year. To achieve the growth target, the country needs relevant supporting fiscal policies,” he said.