China has revised its GDP growth above 6 percent, after it scrapped its last year’s target. The announcement was made by Chinese Premier Li Keqiang during the opening of National People’s Congress.
Although China's economy grew last year, it only managed 2.3% growth, its lowest performance in years.
The new target highlights the Chinese economy's strong rebound after the pandemic shutdowns led to a sharp 6.8% contraction in the first quarter of 2020.
Several analysts have said that the target seems modest since it is below the projected growth rate of 8.1 percent by International Monetary Fund (IMF)