China’s Premier Li Keqiang has warned that the country’s five-percent growth target for 2023 will be no easy task to achieve. During the closing of a week-long meeting of China’s rubber-stamp parliament, Li said that while it is possible to reach this goal, there are many challenges and obstacles in the way.
Li noted that although China had achieved an impressive economic recovery from its coronavirus pandemic slump last year, with robust growth rates expected in 2021 as well, achieving five percent annual GDP growth over three years would require significant effort and reform. He urged lawmakers to focus on developing new industries, such as digital technology and green energy solutions, so they can become major drivers of economic expansion by 2023.
The premier also highlighted potential risks posed by rising debt levels among local governments across the country, which could derail efforts to meet their ambitious goals if not addressed quickly enough. He encouraged lawmakers to reduce government spending wherever possible while ensuring public services remain accessible for citizens who need them most during these difficult times.
In conclusion, he stressed that reaching this goal was achievable but required hard work from all involved parties – both at home and abroad – if it were ever going to be realized within three years.
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