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Reaching its growth target will not be easy for China, new PM warns

2023-03-13T05:41:55.293Z


Appointed on Saturday, Li Qiang denounced this Monday the “encirclement” and the “repression” of his country by the United States.


The new Chinese Premier, Li Qiang, warned on Monday that it would be difficult for his country to reach its growth target this year "

of around 5%

", already one of the lowest in decades.

Achieving a growth target of around 5% will not be easy, I fear, and will take a lot of effort

,” he said during his first press conference since becoming prime minister on Saturday. .

This rate of GDP growth, which would make many the envy of most major economies, would nonetheless be one of the weakest in 40 years for the Asian giant.

Li Qiang, in charge of economic issues, warned against "

new challenges

" for growth, while relativizing the importance of GDP in the daily life of the population.

Big things"

China saw its gross domestic product grow by 3% in 2022, far from the initial target of 5.5%, at a time when health restrictions and the real estate crisis weighed heavily on activity.

The country followed for nearly three years a strict health policy called "

zero Covid

", which allowed the population to be largely protected from Covid-19 but dealt a severe blow to the economy.

These measures were finally lifted in December.

Growth in China is also being penalized by a crisis in real estate, a sector which, together with construction, represents more than a quarter of its GDP, and consumption which is struggling to recover.

Read alsoRe-elected, Xi Jinping challenges America

Li Qiang also denounced

the “encirclement

” and “

repression

” of his country by the United States, in a context of heightened tensions with the first world power.

China and the United States can and should cooperate.

If we cooperate, we can achieve great things

,” Li Qiang said.

A week ago, Chinese President Xi Jinping also spoke in these terms of geopolitical tensions with Washington, during a parliamentary session in Beijing.

China and the United States are waging a fierce battle for the manufacture of semiconductors, these electronic components essential to the operation of smartphones, connected cars but also military equipment.

In the name of national security, Washington has increased sanctions against Chinese chipmakers in recent months.

"

Great Wall of Steel

"

The two powers also oppose each other on other issues, such as Taiwan, the treatment of Uyghur Muslims, trade and Hong Kong.

Against the backdrop of tensions with Washington, Xi Jinping again stressed on Monday the need to strengthen national security.

"

Security is the foundation of development, while stability is a prerequisite for prosperity

," said Xi Jinping, in his first speech since being reappointed Friday as head of China.

To this end, it is necessary to "

fully promote the modernization of national defense and the armed forces, and make [the army] a Great Wall of Steel that effectively protects national sovereignty, security and the interests of the development

,” insisted Xi Jinping in a speech at the end of the annual session of Parliament.

Read alsoChina boosts its military budget

The Chinese president also castigated the “

external forces

” which interfere in the Taiwanese file.

The communist power considers the island as a province of China which it has not yet succeeded in attaching to the rest of the territory since the end of the Chinese civil war (1949).

China sees with dissatisfaction the rapprochement at work in recent years between the Taiwanese authorities and the United States, which has provided the island with military support against Beijing for several decades.

New mandate for Xi

Sole candidate Xi Jinping won a new five-year term as Chinese president on Friday after a unanimous vote in parliament, the culmination of a rise that has seen him become the country's most powerful leader in decades. generations.

Aged 69, he had already obtained in October a five-year extension at the top of the CCP and the military commission of the Party, the two most important positions of power in China.

Source: lefigaro

All news articles on 2023-03-13

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