China sets modest GDP target as it faces regional tensions and an ageing population

Premier Li Qiang tells annual gathering that the global economy and problems closer to home are presenting hurdles for China’s post-Covid recovery

China set its target for GDP growth at 5%, in line with analysts’ expectations for another year of modest ambitions for the economy, amid regional tensions and its demographic crisis.

China’s premier, Li Qiang, spoke of the “challenges” facing China’s leaders as he delivered his annual government work report on Tuesday. He cited the global economy and regional tensions as hurdles for China’s recovery, as well as domestic issues such as low consumer demand in a challenging labour market.