Units GDP progress goal of over 6% for 2021

Chinese Prime Minister Li Keqiang speaks after consultations with the German-Chinese government on July 9, 2018 in Berlin.

Sean Gallup | Getty Images News | Getty Images

BEIJING – Chinese Prime Minister Li Keqiang announced on Friday that the world’s second largest economy would target growth of over 6% in 2021.

Li said the nation is aiming for an urban unemployment rate of around 5.5% and is aiming to create more than 11 million new urban jobs, just as it did in 2019 and up from 9 million last year.

China will also aim to increase the consumer price index by around 3%, a measure of inflation, Li said.

China saw 2.3% growth last year as the only major economy to expand in the wake of the coronavirus pandemic. The country’s official economic figures are often questioned for their accuracy.

The Chinese government opened its annual parliamentary session “Two Sessions” this week to approve the national priorities for 2021. This year’s meeting will only last about a week.

The political advisory body, the Chinese People’s Political Consultative Conference, held its opening ceremony on Thursday. The Legislature of the National People’s Congress began its annual meeting on Friday.

The meeting of delegates, known as the “Two Sessions,” oversaw changes such as President Xi Jinping’s removal of term limits in 2018 and the proposal for a new Hong Kong security law last year.

The otherwise generally symbolic meeting is of particular importance this year as it marks the beginning of China’s five-year plan – the 14th in the country’s history. It is also the 100th anniversary of the ruling Communist Party.

The authorities are expected to provide details on issues ranging from employment goals to managing the Hong Kong semi-autonomous region.

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