Two Sessions: China Sets Lowest GDP Growth Target in More Than Three Decades

(Bloomberg) — China’s government has set its lowest economic growth target in more than 30 years, a sign the housing slump, stringent Covid controls and global risks will continue to curb demand.

Beijing will target GDP growth of around 5.5% this year, according to a prepared speech by Premier Li Keqiang at the opening of the National People’s Congress. Most economists surveyed by Bloomberg predicted that the government would set a range of 5%-5.5%.