China has announced an ambitious GDP growth target of 5 per cent for 2025 despite a slowdown in the domestic economy and mounting trade tensions with the US.
The figure, which was in line with analyst forecasts and matched Beijing’s targets in the previous two years, was announced in the government’s annual “work report”, a review of its achievements last year and economic goals and policies for 2025.
Premier Li Qiang, China’s number-two official, delivered the report on Wednesday before thousands of delegates gathered in Beijing’s Great Hall of the People for the annual session of the National People’s Congress, China’s rubber stamp parliament.
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