Premier Li Keqiang's report was more explicit about the difficulties China faces, analysts noted. Read more at straitstimes.com.
– one of its worst performances since the 1970s – fell short of its target of around 5.5 per cent, as factories shuttered and supply chains were disrupted. Its property market was also mired in a slump after a crackdown on developers for over-borrowing.
It is “keenly aware that China is still a large, developing country” and “remains in the primary stage of socialism with prominent imbalances and inadequacies in its development”, said Mr Li to an audience of legislators, diplomats and journalists at the Great Hall of the People. Raising incomes and creating jobs so people will have more money to spend will be key, “although they will have to put in more work in this aspect”, said Prof Zhao.
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