China has announced its GDP growth range for this year of between 4.5 and 5 per cent, the lowest in decades, and maintained a higher fiscal deficit in an acknowledgment that the world’s second-largest economy is set to expand at a slower rate.
The figure, released in a report ahead of the opening of the annual session of China’s rubber-stamp parliament, represents a modest step down from last year’s target of “around 5 per cent” and the actual growth of 5 per cent during 2025.