Chinese Prime Minister Li Keqiang spoke after consultations with the Germany-China government on July 9, 2018 in Berlin, Germany.
Sean Gallup | Getty Images News | Getty Images
BEIJING – Chinese Premier Li Keqiang announced on Friday that the world’s second largest economy is targeting growth of more than 6% in 2021.
Li said the nation is aiming for an urban unemployment rate of around 5.5% and aims to create more than 11 million new urban jobs, the same as in 2019 and up from 9 million last year.
China will also aim for an increase of about 3% in the consumer price index, a measure of inflation, said Li.
China reported 2.3% growth last year as the only major economy to expand amid the coronavirus pandemic. The country’s official economic data is often questioned for its accuracy.
The Chinese government started its annual parliamentary meeting “Two Sessions” this week to approve national priorities for 2021. This year’s meeting will only last about a week.
The political advisory body, the Chinese People’s Political Consultative Conference, held its opening ceremony on Thursday. The legislature of the National People’s Congress opened its annual meeting on Friday.
The delegate meeting, known as the “Two Sessions”, oversaw changes such as the abolition of President Xi Jinping’s term limits in 2018 and the proposal for a new security law for Hong Kong last year.
The generally symbolic meeting takes on particular significance this year as it marks the beginning of China’s five-year development plan – the 14th in the country’s history. It is also the 100th anniversary of the ruling Communist Party.
The authorities are expected to provide details on topics ranging from employment goals to the management of the semi-autonomous region of Hong Kong.
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