China sets GDP growth target of over 6% in 2021

Chinese Premier Li Keqiang, announced on Friday that the country had set a GDP target of more than 6% for 2021.

“In setting this target, we have taken into account economic recovery,” said Li at the National People’s Congress, China’s annual parliamentary event.

Beijing aims to achieve the goal through a focus on clean industry and technology.

China had not set a GDP target last year owing to uncertainties from the COVID-19 pandemic. It was the only major economy last year to report a positive growth, with an expansion of 2.3%.

The government set a target of about 3% for consumer price inflation this year, and a budget deficit target of 3.2%. It has also pledged to create over 11 million new jobs in cities in 2021.

Seeking peaceful ties with Taiwan

Along with stable economic growth, China is also seeking political stability. Li added that China was “committed” to promoting peaceful growth of relations across the Taiwan strait and would deter any “separatist” activity in Taiwan.

Li iterated that China stood by the “One China” principle, which counts Taiwan as part of China.

“We will promote exchanges, cooperation and integrated development across the Taiwan Strait. Together we can shape a bright future of rejuvenation for our great nation,” he said.

‘Improving’ Hong Kong’s electoral system

Another focus at the parliamentary conference was Hong Kong. Li iterated that China would “resolutely guard against and deter” interference by external forces in the matters of Hong Kong.