CNBC: China sets 2021 GDP growth target of more than 6% as premier warns of ‘formidable tasks’ in finance
* Chinese Premier Li Keqiang announced Friday the world’s second-largest economy would target growth of over 6% for 2021.
* The premier struck an overall positive tone on China’s economic recovery from the pandemic, while noting areas of weakness such as “impediments” to consumer spending.
* Li also discussed hopes for China’s relationship with the U.S. and other international trade deals.
BEIJING — China has set growth target of over 6% for 2021, Chinese Premier Li Keqiang announced Friday at an annual parliamentary meeting — the country’s most important political event of the year.
Such growth would come off a low base. China reported GDP growth of 2.3% last year — the only major economy to expand amid the coronavirus pandemic.
The country’s official economic figures are often doubted for their accuracy.
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WNU Editor: I am always skeptical of economic stats from Beijing. But if this forecast is "somewhat" accurate, China will be easily surpassing the US economy within 7 - 8 years .... China’s economy could double in size by 2035 — and surpass the U.S. along the way (CNBC).
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