Li Keqiang China city Beijing Hong Kong Target Li Keqiang China city Beijing Hong Kong

China Sets Conservative Growth Target as Challenges Loom

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HONG KONG—China unveiled its lowest growth target in more than a quarter-century as Beijing faces challenges in the domestic and global economy following its emergence from three years of strict Covid-19 measures.China’s target of around 5% growth this year in gross domestic product, announced on Sunday by Premier Li Keqiang at the start of the country’s annual legislative session, suggests that officials are less concerned about raw economic expansion as they turn their attention to other priorities.

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