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Two Sessions 2021
EconomyGlobal Economy

China GDP: Premier Li Keqiang defends modest 2021 economic growth target, says rate could exceed 6 per cent

  • Premier Li Keqiang says GDP growth rate of ‘above 6 per cent’ is not low and leaves room for ‘even faster’ economic expansion
  • The target gives Beijing leeway to respond to ‘considerable uncertainty’ surrounding economic recovery from the pandemic, Li says

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Chinese Premier Li Keqiang says a growth rate of above 6 per cent leaves room for ‘considerable uncertainty’ involving the economic rebound in China. Photo: Xinhua
Orange WangandAmanda Leein Beijing
Chinese Premier Li Keqiang on Thursday defended the government’s decision to set a modest gross domestic product (GDP) growth target this year of “above 6 per cent”, adding it could surge beyond that level.

Speaking at a press conference on the last day of the week-long “two sessions” gatherings, Li said the target was not low and the government would be happy to see more robust growth.

“But we are also clearly aware of the considerable uncertainty involving the economic rebound in China, as well as global economic growth and development,” he said.

“The Chinese economy has reached 100 trillion yuan (US$15.3 trillion) in value, and 6 per cent growth means generating an output of 6 trillion yuan.

This target is not set in stone, it’s intended to guide expectations
Li Keqiang

“That is the same amount that would have been added by a growth rate of almost 8 per cent at the start of the 13th five-year [plan] period” in 2016, he said.

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