China sets 2025 GDP growth target of around 5%
China has set a GDP growth target of around 5% this year and aims to create over 12 million new urban jobs, amid the risk of a full-blown trade war with the US. Premier Li Qiang unveiled the closely watched figure in his annual work report at the opening of the National People's Congress — China's top legislature. He said these goals were set in response to "evolving dynamics" domestically and globally. Some analysts said maintaining the 5% GDP target signals the government's commitment to stronger fiscal and monetary support for domestic demand amid an uncertain external environment. Tan Si Hui reports.
China has set a GDP growth target of around 5% this year and aims to create over 12 million new urban jobs, amid the risk of a full-blown trade war with the US. Premier Li Qiang unveiled the closely watched figure in his annual work report at the opening of the National People's Congress — China's top legislature. He said these goals were set in response to "evolving dynamics" domestically and globally. Some analysts said maintaining the 5% GDP target signals the government's commitment to stronger fiscal and monetary support for domestic demand amid an uncertain external environment. Tan Si Hui reports.
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