China’s government set its lowest economic growth target in more than 30 years, a sign the housing slump, stringent Covid-19 controls and global risks will continue to curb demand.
Beijing will target gross domestic product (GDP) growth of around 5.5% this year, according to a prepared speech by Premier Li Keqiang at the opening of the National People’s Congress (NPC). Most economists surveyed by Bloomberg predicted the government would set a range of 5% to 5.5%.
