Set 2021 GDP growth target of more than 6%

Chinese Prime Minister Li Keqiang speaks following the government-China consultations between Germany and China on July 9, 2018 in Berlin, Germany.

Sean Gallup | Getty Images News | Getty Images

BEIJING – Chinese Prime Minister Li Keqiang announced on Friday that the second largest economy in the world will aim for growth of more than 6% by 2021.

Li said the country is aiming for an urban unemployment rate of around 5.5% and is aiming for the creation of more than 11 million new urban jobs, the same as in 2019 and up from 9 million last year.

Li will also aim for a 3% increase in the consumer price index, a measure of inflation.

China last year showed 2.3% growth as the only major economy to expand amid the coronavirus pandemic. The country’s official economic figures are often questioned as to their accuracy.

The Chinese government kicked off its ‘Two Sessions’ parliamentary session this year to approve national priorities for 2021.

The political advisory body, the Chinese People’s Political Consultative Conference, held its opening ceremony on Thursday. The National People’s Congress legislature began its annual convention on Friday.

The assembly of delegates, known as the ‘Two Sessions’, oversaw changes such as the abolition of President Xi Jinping’s term limit in 2018 and the proposal for a new security law for Hong Kong last year.

The otherwise generally symbolic meeting takes on special significance this year, as it marks the beginning of China’s five-year development plan – the 14th in the country’s history. It is also the 100th anniversary of the ruling Communist Party.

Authorities are expected to set out details on topics ranging from employment targets to management of the Hong Kong Semi-Autonomous Region.

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