The government plans to strengthen the labour market so people 'dare to consume without worries'. Read more at straitstimes.com.
Economists had expected the target to be set between 5 and 5.5 per cent this year.
Nonetheless, provincial governments are optimistic about the economic rebound this year, with 23 out of China’s 31 provinces expecting to surpass the national target and grow more than 5 per cent this year, Mr Zhao said.its worsening relationship with the United States, Mr Li Chunlin, also a vice-chairman at NDRC, pledged to strengthen the labour market to ensure that Chinese consumers “dare to consume without worries”.
The jobless rate in 31 major cities, where most of China’s domestic growth comes from, was 6.1 per cent in December 2022. There is greater pressure on the government to create jobs this year, as a record 11.58 million graduates will be entering the workforce.
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