Confident in 6.5 Percent Growth

Cangzhou, Hebei Province: Robots work on the production line of a Hyundai welding workshop. On March 5, Chinese Premier Li Keqiang delivered the Report on the Work of the Government at the Fifth Session of the 12th National People’s Congress. In this report, China set the projected 2017 goal of “GDP growth of around 6.5 percent, or higher if possible in practice,” the lowest target in a quarter of a century. The move shows a resolve to value quality over fast growth.

The expected target aligns with both economics and reality, Li said, adding that it will help stabilize market expectations and facilitate the country’s structural adjustments. “An important reason for stressing the need to maintain steady growth is to ensure employment and improve people’s lives,” Premier Li remarked. “Considering our sound economic fundamentals and the capacity they bring to job creation, this target is attainable with hard work.”