BEIJING: China has targeted a 5.5% increase of gross domestic product (GDP) in 2022.

       The goal was set taking into consideration the average growth rates of the last two years, said Premier Li Keqiang.

       He added it was based mainly on the need to maintain stable employment, meet basic living needs and guard against risks.

       "It represents a medium-high rate of growth given our large economic aggregate and to show our ability to move proactively," he pointed out while delivering the Government's work report on Saturday (March 5) morning.

       China had set a GDP growth target of 6% in 2021 and it achieved this with flying colours, reaching 114 trillion yuan (RM75.38 trillion), which was an 8.1% growth.

       "The Covid-19 pandemic is still ongoing. The world economic recovery lacks drive and commodity prices remain high and are prone to fluctuation.

       "All of this is making our external environment increasingly volatile, grave and uncertain.

       "In pursuing economic development, China is under the triple pressures of shrinking demand, disrupted supply and weakening expectations," Li said as he addressed the challenges faced by the nation at the opening of the National People's Congress (NPC).

       Other targets of China in 2020 include creating more than 11 million new urban jobs while maintaining the urban unemployment rate at below 5.5%, while targeting grain output of over 650 million metric tonnes.

       "These efforts will enable us to pave the way for a successful 20th National Party Congress," announced Li.

       The 20th National Party Congress of the Communist Party of China, expected to be held in October, was expected to see Xi Jinping re-elected as the secretary-general and continue to lead the country.

       While announcing the country's achievements in the report, Li said the national fiscal revenue exceeded 20 trillion yuan (RM13.2 trillion), a growth of 10.7% while the average surveyed unemployment rate stood at 5.1%.

       Other achievements last year were grain output reaching a record high of 685 million metric tonnes, value-added to the high-tech manufacturing sector grew by 18.2%, and the total volume of trade in goods grew by 21.4%.

       The week-long NPC and the National Committee of the Chinese People's Political Consultative Conference (CPPCC), known as the Two Sessions, are dubbed the annual Chinese parliamentary meetings.