China Sets Ambitious 5% Economic Growth Rate

China’s government announced plans for a consumer-led revival of the struggling economy as its legislature opened a session Sunday that will tighten President Xi Jinping’s control over business and society, Joe McDonald reported for the Associated Press (AP).

Photo Insert: Premier Li Keqiang, the top economic official, set this year’s growth target at “around 5%” following the end of anti-virus controls that kept millions of people at home and triggered protests.

Premier Li Keqiang, the top economic official, set this year’s growth target at “around 5%” following the end of anti-virus controls that kept millions of people at home and triggered protests.

Last year’s growth in the world’s second-largest economy fell to 3%, the second-weakest level since at least the 1970s.

The official in line to become premier is Li Qiang, a former party secretary of Shanghai who is close to Xi but has no government experience at the national level. Li Qiang was named No. 2 party leader in October.

“We should give priority to the recovery and expansion of consumption,” Li said in a speech on government plans before the ceremonial National People’s Congress (NPC) in the Great Hall of the People in Beijing.

The full meeting of the 2,977 members of the NPC is the year’s highest-profile event but its work is limited to endorsing decisions made by the ruling Communist Party and showcasing official initiatives.

This month, the NPC is due to endorse the appointment of a government of Xi loyalists after the president expanded his status as China’s most powerful leader by awarding himself a third five-year term as party general secretary in October and preparing to become leader for life.

Li, an advocate of free enterprise, was forced out as the No. 2 party leader in October. Li also opposed independence for Taiwan, the self-ruled island claimed by Beijing as part of its territory.

He called for “peaceful reunification” with Taiwan, which has never been part of the People’s Republic of China. Beijing says it is obligated to unite with the mainland, by force if necessary.

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