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China lowers GDP target for 2022 to 5.5% from last year’s 6.1% - Best Business Review Site 2024

China lowers GDP target for 2022 to 5.5% from last year’s 6.1%

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on Saturday lowered its GDP target to 5.5 per cent for this year bringing it down from last year’s 6.1 per cent.


The new target for the second-largest was announced by Premier Li Keqiang in his work report presented to the National People’s Congress (NPC), the country’s Parliament which opened its annual session here on Saturday.





In 2021, China’s grew by 8.1 per cent 2021 to about USD 18 trillion stated to be the best in a decade. The pace of the growth was well above the government target of above six per cent in 2021.


In his work report presented to Parliament, Li said plans to create more than 11 million new jobs in 2022. plans to cut the ratio of its deficit to GDP to around 2.8 per cent for the year 2022.


The fundamentals of China’s remain unchanged, and they will maintain long-term growth, he said.


Over 2,800 members attended Parliament which will meet here for over a week to transact the annual legislative work.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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