Mar 4, 2021 - World

China sets 2021 economic growth target at over 6%

Axios

China's Premier Li Keqiang delivers his work report during the opening session of the National People's Congress — China's Premier Li Keqiang at the opening session of the National People's Congress in Beijing, March 5. Photo: Leo Ramierz/AFP via Getty Images

China on Friday set its annual economic growth target at "over 6%," and renewed its vow to become a more self-reliant technology leader, AP reports.

Why it matters: Premier Li Keqiang, China's top economic official, made the announcement as the world's second-biggest economy continues its recovery from the coronavirus pandemic. The latest target also comes "amid tension with Washington and Europe over trade, Hong Kong and human rights," AP notes.

China was the only major economy to report growth last year, with its GDP expanding 2.3%.

What they're saying: “As a general target, China’s growth rate has been set at over 6% for this year,” Li said in his 2021 work report delivered at the opening of this year’s parliament meeting, per Reuters.

“In setting this target, we have taken into account the recovery of economic activity," Li added.
He said the country aims to create more than 11 million urban jobs, up from the 2020 target of 9 million new urban jobs.
Li also noted that the country will “work faster to enhance our strategic scientific and technological capability" and will "regard scientific and technological self-reliance as a strategic support for national development,” per AP.

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China sets 2021 economic growth target at over 6%

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