Chinese Premier Li Keqiang meets the press via video link after the closing of the fifth session of the 13th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 11, 2022.(Photo: Xinhua)

 
Chinese Premier Li Keqiang used a metaphor to stress that this year's 5.5 percent GDP growth target is reasonable, as he said that high-level stability is actually an improvement, signaling that China's GDP growth target is a high rate considering the complicated global situation as well as the high base level.

"It's like climbing a mountain of 1,000 meters. Covering 10 percent of its height, you need only climb 100 meters, but when climbing a 3,000-meter-high mountain, 5 percent of its distance is 150 meters," Li said. "The higher one climbs, the less oxygen he has; the speed looks like having slowed down, but actually the weight grows heavier," Li said. 

Li made his comments during a press conference after the closing of fifth session of the 13th National People's Congress. He also recalled that reporters had questioned last year over whether China's economic target of 6 percent has been set too low. 

China has set a GDP growth target of 5.5 percent for this year. The country's economy surged 8.1 percent last year, largely exceeding the goal of 6 percent set by the government at beginning of the year. 

China sets 2022 GDP growth target at around 5.5 pct

Li's comments signal the tougher conditions China faces this year in achieving high-level economic growth compared with past levels. "Uncertain factors are increasing, and the complicated environment is changing. The 5.5 percent growth is already equivalent to a country of medium economic size. " 

High base level is another challenge. Last year, China's economic aggregate reached 110 trillion yuan ($17.38 trillion), Li said, which means that further growth has a high base. 

"China's macro policies are formulated on the basis of actual conditions. We have achieved major targets of social and economic development last year, which have laid a solid foundation for this year's growth," Li said.

The biggest challenge for this government came from COVID-19, which had dealt a heavy blow to the economy. But the government didn’t shy away from the difficulty, it responded with the greatest effort. China has adopted a range-based approach to deal with cynical fluctuation, Li added.

Global Times