Two Sessions: China’s GDP Target Unchanged as Deficit Projection Hits Record High

Growth goal has been set at the same level for a third year running, on par with market expectations

For China to hit its GDP growth target of around 5% in 2025, it will have to achieve “formidable” tasks that include spurring domestic demand, stabilizing the real estate sector and navigating external uncertainties, according to the annual government work report released Wednesday.

The growth goal, which has been set at the same level for a third year running, is on par with market expectations and last year’s recorded growth.

“A target of around 5% is well aligned with our mid- and long-term development goals and underscores our resolve to meet difficulties head-on and strive hard to deliver,” Premier Li Qiang said in the report to the annual session of the country’s top legislature.