Li Qiang mentioned that it is difficult in achieving five percent GDP during slow economic growth.
China’s new Premier Li Qiang said on Monday that reaching the 5% GDP target in a slowing economy would not be easy and would require redoubled efforts, but the country’s fragmented private sector had a better environment and more room for growth.
Li Qiang, the longtime aide to Chinese President Xi Jinping who succeeded Li Keqiang, drew on Chinese folklore at his first press conference to demonstrate the country’s resilience in the face of adversity but acknowledged economic challenges
Addressing the importance of GDP, he said most people do not keep a watch on GDP all the time. China which is the world’s second-largest economy, the previous year declared a three percent GDP, which was the lowest in decades and the goal for this year by Li Keqiang as per the reports on March 5 is also the lowest in years.
“What people care more about are the things that happen in the everyday life like housing, employment, income, education, medical services, and the environment,” Li said.
“Therefore, the government must always plan and carry out its work in light of what the people feel and act according to the people’s aspirations,” he said.
He also mentioned improvement signs stating that the economy will “break through the wind and waves and sail towards a brighter future“.
Regarding concerns over the suppression of private enterprises in recent years, including growing doubts about the periodic disappearance of industrialists, he said China’s private enterprises will enjoy a better environment and more development space. wide.
He admits there has been constant “inappropriate” talk and gossip about private business and private sector politics.
He stressed people-centered development philosophy saying that “The ultimate aim of the work of the Party and the government is to improve the well-being of the people.”
