China sets growth target of 6% for 2021


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Australia will be hoping for another free ride on China's economic engine because Australia has no hope of positive growth in 2021 because migration has ceased. Migrants spending was the main engine of economic growth in Australia.

BEIJING — Chinese Premier Li Keqiang announced Friday the world’s second-largest economy would target growth of over 6% for 2021.

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

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

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