Li Flags Difficulties Meeting GDP Target, More Precise COVID Policy

Comments from Chinese Premier Li haven’t provided much in the way of surprise thus far. Li has flagged the difficulties in China achieving its ’22 GDP growth target given the size of the nation’s economy, alongside a focus on employment when it comes to policymaking. Li also noted that the Chinese policy mix is correct, given the limited levels of inflation in the country. Li then pointed to focus on longer term objectives when it comes to ’22 policy settings.

• On COVID restrictions, the Premier flagged a “more precise & scientific approach.”
• On wider subjects, Li pointed to a need for co-operation between China & the U.S., which he suggested would be better for the world.
• On the Russia-Ukraine conflict, Li pointed to hope for a peaceful resolution and support for talks working towards a ceasefire. He also reaffirmed the need for recognition of borders.