China’s Li Keqiang announces lowest GDP target in decades amid major economic leadership overhaul


Key Topics in this News Article:

News Snapshot:

Hong Kong CNN — China’s outgoing Premier Li Keqiang has announced the country’s lowest GDP growth target in decades, highlighting the domestic and global challenges the world’s second largest economy still faces despite its decision late last year to ditch draconian anti-Covid measures. Li set a target of about 5% growth for 2023 during the National People’s Congress on Sunday, while acknowledging the “many difficulties” the economy is facing. The only year in recent history when the government has been less ambitious was in 2020, when it passed on a numerical target because the economy was nearly paralyzed by the...