Market news
11.03.2021, 10:58

Chinese premier rejects idea that 2021 GDP growth target too 'low'

Reuters reports that Chinese Premier Li Keqiang defended the government's target for more than 6% economic growth this year, saying it is "not low", and policies would not be dramatically loosened to chase higher growth.

Li said the focus this year is on consolidating China's economic recovery, and setting hugely different growth targets from year to year would only "disturb" market expectations.

"Walking quickly for a moment does not mean one is walking steadily," Li said. "It is only with a steady pace that we will be firm in our steps."

Li warned against any "sharp turn" in policy making, and said that there would be no drop in efforts to secure people's livelihoods.

On the government's 2021 target to create more than 11 million urban jobs, Li said he hoped that goal could be exceeded even though pressure on employment remains significant.

China will also continue to open up to outside investment, including a push to open up its services sector, he said.

"We will deepen our opening up while boosting domestic demand through all efforts, and make China an important destination for foreign investment," he said.

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