Authorities praise the Government Work Report

According to international analysts, China has set a reasonable GDP growth target that demonstrates a strong sense of confidence in its economy, and the government is working to make sure that everyone benefits from economic progress. Tuesday, Premier Li Qiang presented the National People’s Congress with the most recent Government Work Report. In it, he outlined the main goals for this year’s progress, including a GDP increase of approximately 5%. In addition, he listed the main objectives for 2024, which included pushing higher-standard opening-up, deepening reform, stimulating science and education in China, modernizing the industrial system, and creating new, high-caliber productive forces faster.

The East is Still Red author and co-editor of the London-based platform Friends of Socialist China, Carlos Martinez, stated that China’s GDP growth target indicates a strong sense of confidence in the country’s ability to continue its economic recovery from the COVID-19 pandemic as well as its ability to withstand a difficult and complex international environment marked by multiple conflicts, slow growth, and attempts at “decoupling.” It also represents the ‘new normal’ of Chinese economy, he continued, where high-quality, sustainable growth grounded in innovation is replacing rapid growth based on quantity. The Government Work Report, he said, demonstrated that China’s GDP growth was not keeping up with the country’s per capita disposable income, with low-income groups experiencing the largest income increases.

This illustrates the government’s genuine attempts to lessen inequality and its continuous dedication to promoting common prosperity,” he stated. “Living standards are improving, and the government is working to ensure that the benefits of economic growth are shared by all.” The study also covered China’s rejection to hegemony and bullying, as well as its ongoing commitment to global peace and prosperity. Martinez called China’s dedication to world justice, multipolarity, and peace “a breath of fresh air” in contrast to the West led by the United States. China’s GDP growth forecast for this year of about 5 percent, according to Silicon Valley, California-based retired international business counsel George Koo, is “a reasonable, general consensus target”.