China’s 4th session of the 14th CPPCC National Committee was held in Beijing on Thursday, during which the country announced that its GDP growth target for this year will be 4.5% to 5%.
In his government work report, Premier Li Qiang said China will continue to implement a moderately accommodative monetary policy this year. The main targets include creating more than 12 million new urban jobs; keeping the surveyed urban unemployment rate at around 5.5%; holding the increase in the consumer price index (CPI) at around 2%; keeping growth in residents’ income in line with economic growth; maintaining a broadly stable balance of payments; achieving grain output of about 1.4 trillion jin (700 million tons); and reducing carbon dioxide emissions per unit of GDP by around 3.8%.
