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China targets an economic growth rate of around 5 percent in 2025, according to a government work report submitted Wednesday to the national legislature for deliberation, Xinhua reports.
The annual "two sessions," a highly anticipated event on China's political calendar, began on Tuesday with the opening of the annual session of the country's top political advisory body. The annual session of China's top legislature, the National People's Congress (NPC), began Wednesday.
The 14th National People's Congress (NPC), China's national legislature, opened its third session on Wednesday morning at the Great Hall of the People in Beijing.
Chinese President Xi Jinping and other leaders attended the opening meeting.
Premier Li Qiang delivered a government work report at the meeting.
Lawmakers reviewed a report from the State Council on the implementation of the 2024 plan for national economic and social development and on the 2025 draft plan, as well as the draft plan for national economic and social development in 2025.
The government report presented at the session also outlines an array of other key development goals for this year, including a surveyed urban unemployment rate of around 5.5 percent, over 12 million new urban jobs, and an around 2 percent increase in the consumer price index, Xinhua reported.
The country achieved economic growth of 5 percent in 2024 as an impactful policy package, along with other pro-growth measures, helped fuel strong economic momentum.
On a global scale, an around 5 percent growth rate places China among the world's fastest-growing major economies, with the economic increment equating to the annual output of a mid-sized nation.
