China’s GDP Goal, Defense Budget, Disorderly Capital: NPC Update
The Great Hall of the People during the opening of the first session of the 14th National People's Congress in Beijing on March 5.
Photographer: Lintao Zhang/Getty Images
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China will target gross domestic product expansion of around 5% for 2023, Premier Li Keqiang said in his final government work report to the National People’s Congress — the annual parliamentary gathering. Economists said the target is a conservative goal.
The meeting, which kicked off Sunday morning and will conclude on March 13, promises a shakeup at the top echelons of government that could further consolidate President Xi Jinping’s power. Other major targets announced by Li, who is set to be replaced by Xi ally Li Qiang, are as follows: