China's GDP Growth Expected to Reach 5% This Year

According to China's Prime Minister Li Qiang, China's Gross Domestic Product (GDP) growth rate for this year can reach around 5%. 

In his annual report presented during the third full session of the 14th National People's Congress (NPC) in Beijing, he mentioned that the GDP growth rate would be approximately 5%, according to Chinese news agency Xinhua. China is one of the stable and dynamic countries in terms of economic growth. 

The report also states that the urban unemployment rate in 2025 is expected to be around 5.5%. The budget expenditure for this year is estimated at 297 trillion yuan, which is 12 trillion yuan more than last year. China will adopt a moderately loose monetary policy. 

The report includes statements from the Prime Minister, where he expressed his views on the healthy development of the real estate and stock markets, green development, encouraging consumers, and assisting small and micro enterprises. 

The Prime Minister also presented commitments and targets, including the creation of over 12 million new urban jobs, a consumer price increase of 2%, maintaining a basic balance in international payments along with the increase in the production of grains.