One China analyst told the BBC that the lower target gives China “more room to manage the economy” without being forced into making huge financial commitments just to hit a precise goal.<\/p>\n
“China has used flexible targets before, particularly during the pandemic, but it’s not the norm,” Jason Bedford from the East Asian Institute research group added.<\/p>\n
The two sessions event, which began on Wednesday and usually runs for at least a week, brings the country’s leaders together for back-to-back meetings.<\/p>\n
Details of China’s gross domestic growth (GDP) target and its objectives under its latest Five Year Plan were included in a 46-page report published by Premier Li Qiang, seen by the BBC.<\/p>\n
The full text of the plan, which will outline China’s economic development objectives to 2030, will be voted on during the closing day of the gathering.<\/p>\n
It is expected to be released by state media one or two days days.<\/p>\n
Li told delegates that the Five Year Plan will include investments in innovation, high-tech industries, scientific research and more efforts to boost household consumption.<\/p>\n
His comments underline Beijing’s concerns that weak domestic consumption makes the country too reliant on exports, as well as highlighting its ambitions to upgrade the country’s manufacturing industries.<\/p>\n
The report outlines plans for more than 100 major projects over the next five years to expand China’s industrial capacity, with a focus on science and technology, transportation and energy.<\/p>\n
China aims to lead a green energy push, reducing carbon emissions and improving environmental protection, Li wrote.<\/p>\n
The country will also build a “childbirth-friendly society” as it addresses concerns over employment, education and healthcare, the report said.<\/p>\n
China faces an ageing population and falling birth rates, complicating Beijing’s plans to boost its economy.<\/p>\n","protected":false},"excerpt":{"rendered":"One China analyst told the BBC that the lower target gives China “more room to manage the economy”…\n","protected":false},"author":2,"featured_media":458374,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":["post-458373","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/458373","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=458373"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/458373\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/458374"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=458373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=458373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=458373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}