China confident to meet congress growth targets

Chinese economic officials expressed confidence that they can meet this year’s growth target of “around 5%” by generating 12 million new jobs and encouraging consumer spending following the end of anti-virus controls that kept millions of people at home.

The Cabinet planning officials announced no details of spending or other initiatives to revive growth that slumped to 3% last year, the second-lowest in decades. But they said they plan an array of measures to meet goals announced Sunday by Premier Li Keqiang by raising incomes and encouraging innovation. Efforts to revive the Chinese economy have global implications after weak retail, auto and housing sales depressed demand for imports.