The target is well down from the goal of 8.1% in 2021.
Li's report (the Government Work Report) added:
- commodity prices "remain high and prone to fluctuation"
- the external environment is becoming "increasingly volatile, grave and uncertain."
China's economy is struggling with:
- the country's strict "zero-COVID" measures weighing on grwoth
- China's slumping and heavily indebted property sector
Chinese state media is p[painting an optimist picture though:
- China on Saturday set a growth target of around 5.5 percent for its economy in 2022, exceeding market predictions and showcasing the country's top policymakers' confidence in maintaining stable growth in the world's second-largest economy despite downward pressure both at home and abroad.
