China sets 2021 economic growth target at over 6%
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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