China will aim for economic growth of "around 5.5%" this year

The target is well down from the goal of 8.1% in 2021.

Li's report (the Government Work Report) added:

• commodity prices "remain high and prone to fluctuation"
• the external environment is becoming "increasingly volatile, grave and uncertain."

China's economy is struggling with:

• the country's strict "zero-COVID" measures weighing on grwoth
• China's slumping and heavily indebted property sector

Chinese state media is p[painting an optimist picture though:

• China on Saturday set a growth target of around 5.5 percent for its economy in 2022, exceeding market predictions and showcasing the country's top policymakers' confidence in maintaining stable growth in the world's second-largest economy despite downward pressure both at home and abroad.

eur EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term