China’s Growth Target, Stimulus in Focus for New Leadership
- Economists say GDP target will be set higher than 5%
- Fiscal, monetary stimulus may be more muted as growth rebounds
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After three years of turbulence under the Covid pandemic, China’s leaders are expected to lay out economic goals to get growth back on track, restore confidence and avoid a build-up of financial risks.
Economists expect Premier Li Keqiang — who will deliver his last government work report on Sunday when the annual National People’s Congress kicks off — to outline a target for gross domestic product growth for this year of higher than 5%. That’s after the economy expanded just 3% last year, missing the official goal by a wide margin.