Kathmandu. Covid -19 has badly shaken China's economy. Because of this, China's economic growth rate target is seen to decrease. China has set a target of 5 percent economic growth rate for this year. According to the government's task force report, the National People's Congress has started its annual parliamentary session. This year's target of 5 percent is lower than expected, with news agency Reuters saying the economy's growth target may be limited to 6 percent.

In the report, current Prime Minister Li Keqiang said that it is necessary to give priority to economic stability. The target was set to create around 12 million urban jobs this year. Which was more than the previous year's target of at least 11 lakh. China's gross domestic product (GDP) grew by just three percent last year. This is China's worst performance in four decades on the economic growth front. The Chinese government had imposed strict restrictions on Covid. Because of this, the economic activity there was slowed down.

According to the report, Lee has set a government budget deficit target of 3.0 percent of GDP. This is an increase of about 2.8 percent from last year's target. It is believed that the government can announce decisions to implement major changes in this year's parliament session. The Chinese government is trying to get its economy back on track after being affected by Covid.