China’s economy grew at an average of 5.2 percent annually for 5 years – WORLD

China’s economy grew by an average of 5.2 percent per year over 5 years.Chinese Premier Li Keqiang presented a report on the work of the government at the 1st meeting of the 14th National People’s Congress.Chinese Premier Li Keqiang presented a report on the work of the government at the 1st meeting of the 14th National People’s Congress. Li Keqiang stated that in 2022, the Chinese economy has achieved stable growth, the quality of development has improved, social stability has been maintained, and new achievements in China’s development have been achieved, which is not easy.
Recalling that last year, China’s economic growth faced pressure caused by many unexpected internal and external factors, as well as COVID-19, Li pointed out that under the leadership of the CPC Central Committee, economic and social events have moved forward and the epidemic has been brought under control. , and epidemic prevention measures have been improved.

Prime Minister Li recalled that last year, the Chinese economy grew by 3 percent, the unemployment rate in the country fell to 5.5 percent, and the consumer price index was fixed at 2 percent, while the annual development targets set for the Chinese economy were achieved in difficult and unstable conditions. environment while maintaining a strong economy.

Recalling that China’s GDP has reached 121 trillion yuan, Li said that the average annual growth rate over the past five years has reached 5.2 percent. “China’s GDP has increased by about 70 trillion yuan in the past ten years, and the average annual growth rate has reached 6.2 percent,” Li said, adding that while the country’s reform and opening up practices have continued for the past 5 years. , the joint construction of “Belt and Road” He said that China’s foreign trade volume has exceeded 40 trillion yuan.

Pointing out that China continues to rank first in the world in attracting foreign capital and foreign investment, the report noted that fruitful results have been obtained in areas such as poverty alleviation, scientific and technological innovation and improvement of the ecological environment. .

The growth target for 2023 is around 5 percent.

Chinese Premier Li Keqiang announced that the growth target for the Chinese economy this year has been set at about 5 percent. The report also set a target of creating 12 million new jobs in cities and towns and reducing the reported urban unemployment rate to 5.5 percent in 2023.

Li also said they will work to keep the consumer price index (CPI) at 3 percent in 2023 and keep household income growth at the same level as economic growth. Premier Li said that while maintaining stability in foreign trade and improving the quality of foreign trade, the balance of payments will also be maintained, grain production will be maintained above 650 million tons, and the ecological environment will be improved.