What you should know from the opening of China's legislature

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China’s Premier Li Qiang promoted an image of confidence as he announced modest economic growth goals for the country at one of its most important political gatherings

BEIJING — China's Premier Li Qiang promoted an image of confidence as he announced modest economic growth goals for the world's second largest economy, at one of the country's most important political gatherings.

Li addressed a few thousand delegates of the country's rubber-stamp legislature, the National People's Congress, which met in Beijing.

It's a time when the government reviews the work of the past year, and crucially reveals targets and goals for the coming year, especially in its approach to its economy, military budget and Chinese society.

Here are some key takeaways from Li's address Tuesday.

The government's overall approach to the economy will not change, as the goals by the government for 2024 signal that they want to stabilize growth. Li announced that the GDP growth target was 5% this year — a modest target that is still going to be difficult. China is grappling with an economic slowdown and a real estate market in crisis after a crackdown on excess borrowing led to a liquidity crisis among developers.

“This year’s targets are virtually the same as last year, reflecting policy stasis in Beijing as the central leadership delays any significant economic policy decisions until the Third Plenum later in the year,” said Neil Thomas, a fellow on Chinese Politics at the Asia Society.

Li's report had stronger language on Taiwan, a self-ruled island that China considers its own.

Missing from this year's report was the word “peace.” Last year, the premier had called for “advanc(ing) the process of China’s peaceful reunification.” This year, Li