China needs to maker greater efforts to achieve growth target, leadership always supports private economy – Premier Li Qiang
MACRO POLICY & REGULATION
China needs to maker greater efforts to achieve growth target, leadership always supports private economy – Premier Li Qiang
MACRO POLICY & REGULATION

China needs to maker greater efforts to achieve growth target, leadership always supports private economy – Premier Li Qiang

 

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China’s economic growth target for this year has been set at “around 5%” after taking into account various factors, said Chinese Premier Li Qiang. 

“Our economy has grown in size, with a total output exceeding 120 trillion yuan, and it’s also facing many new challenges. Given such a high base, achieving a growth target of around 5% may not be an easy task, and we need to make even greater efforts,” said Li.

In order to achieve the growth target of 5%, the government will have to roll out accommodative macro policy measures, actively expand demand, implement reforms and innovations, as well as resolve relevant risks, Li said.

Li said that China’s top leadership has always been very clear about developing the private economy and the environment for the private economy’s development will continue to improve and the space for the development will continue to expand.

Regarding the country’s food security, the government’s support policies for grain production will only increase and not decrease, and the government encourages people to cultivate more grains, said Li. 

“We must ensure that the rice bowl of 1.4 billion Chinese people is firmly in our own hands.”

In the next step, China will promote modernization with Chinese characteristics and “we must still rely on reforms and opening up” in the historical course of achieving the second centenary goal, said Li.

Most of ordinary people do not care so much about GDP and what they are more concerned about are matters happening around them, such as housing, employment, income, education, healthcare, and environment, he said.

The government’s work should be close to the people’s actual feelings and truly fulfill the people’s expectations, said Li.

When asked about Sino-US relations, Li said that the talks of “decoupling” between China and the US are still hot, but it’s unclear how many people can truly benefit from such hype. 

The economies of China and the US are intertwined, and both benefit from each other’s development, Li saidl.

China and the US can cooperate, should cooperate, and there is great potential for cooperation between the two countries, he added. “Containing and suppressing each other will not benefit anyone.”