Two Sessions: China Expected to Keep GDP Goal Steady, Raise Budget Deficit Target

Figures are set to be announced Wednesday by Premier Li Qiang at annual political meeting

China’s annual GDP growth goal is expected to remain at “around 5%.” The official figure will be announced Wednesday by Premier Li Qiang at the annual political meetings known as the “Two Sessions.”

China’s annual GDP growth goal is expected to remain at “around 5%,” analysts said, while its budget deficit target is likely to rise in a bid to spur domestic consumption and offset the impact of additional U.S. tariffs.

The official figures are set to be announced Wednesday by Premier Li Qiang, as he addresses the annual meeting of the National People’s Congress after its opening. The legislature’s meeting is held almost concurrently with the yearly gathering of the nation’s top political consultative body — the two events are known collectively as the “Two Sessions.”