Beijing (TDI): China’s national legislature on Wednesday opened its annual session, with a string of confidence-boosting development goals unveiled, including an economic growth target of around 5% for 2025.
Approximately 3,000 deputies attended the third session of the 14th National People’s Congress (NPC), held at the Great Hall of the People in Beijing.
Chinese President Xi Jinping and other leaders including Li Qiang, Wang Huning, Cai Qi, Ding Xuexiang, Li Xi and Han Zheng attended the session.
Zhao Leji, executive chairman of the session’s presidium, chaired the meeting.
Premier Li Qiang delivered a government work report.
Reviewing the work of 2024, he stated that in the face of complex and challenging developments marked by increasing external pressures and growing domestic difficulties, China has accomplished the major goals and tasks for economic and social development.
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“While recognizing our achievements, we are fully aware of the difficulties and challenges before us,” he said.
Noting that 2025 is the final year for implementing the 14th 5-Year Plan (2021-2025), the premier stated China targets economic growth of around 5% this year.
China has set the target for its surveyed urban unemployment rate at around 5.5%, and plans to create more than 12 million new urban jobs in 2025, Li said.
The country also targets an annual increase in the consumer price index of around 2%, he added.
Noting that China faces formidable tasks in economic and social growth, Li said the country should focus on top priorities and key links and strive to deliver a good performance in several sectors, including vigorously boosting consumption, expediting the development of a modernized industrial system, accelerating the implementation of landmark reform initiatives, expanding high-standard opening up, and stabilizing foreign trade and investment.
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At Wednesday’s meeting, legislators reviewed a report from the State Council on the implementation of the 2024 plan for national economic and social growth and on the 2025 draft plan, as well as the draft plan for national economic and social development in 2025.
They also reviewed a report from the State Council on the execution of the central and local budgets for last year and on the draft central and local budgets for the current year, as well as the draft central and local budgets for 2025.
