China Sets This Year’s Economic Growth Target at ‘around 5%’

AP Photo/Ng Han Guan
Delegates gather before the opening session of China’s National People’s Congress (NPC) at the Great Hall of the People in Beijing, Sunday, March 5, 2023.

BEIJING (AP) — China’s government on Sunday set this year’s economic growth target at “around 5%” as it tries to rebuild business activity following the end of anti-virus controls that kept millions of people at home.

Premier Li Keqiang, the top economic official, announced the target in a report on government work to the ceremonial legislature, the National People’s Congress.

Chinese leader Xi Jinping said earlier this year’s official priority is an economic revival based on consumer spending after growth sank to 3% last year, its second-lowest level since at least the 1970s.