China restores GDP target after economy’s growth
On Friday, China decided to restore its annual economic growth target, setting its outlook above 6% and pledging that it will increase job vacancies in cities than last year. The decision came after the world’s second-biggest economy staged an impressive rebound from the coronavirus drag.
Last year, the coronavirus pandemic prompted China to drop its gross domestic product growth for the first time since 2002. In 2021, it was restored as Premier Li Keqiang announced that the country’s growth rate has been set at over 6% for this year.
Included in Li’s report is the country’s plan of creating more than 11 million new urban jobs. The new target came larger than last year’s target of over 9 million jobs. More so, China’s GDP recorded a 2.3% expansion last year, recovering impressively above its peers.