China’s ‘two sessions’ 2023: Premier Li Keqiang bows out with appeal for economic recovery

Li’s final government work report aims to chart a steady course for jobs, inflation and growth

To get there, the country will need to deal with a raft of domestic and external challenges, he says

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Premier Li Keqiang delivers his final work report to the National People’s Congress on Sunday. Photo: AFP

Published: 11:00pm, 5 Mar 2023Updated: 3:42pm, 10 Mar 2023

Beijing aims to balance economic growth with risk management this year as it shakes off three years of pandemic controls and mounting challenges at home and abroad.

That was the message Premier Li Keqiang sent on Sunday when he delivered the annual government report to the National People’s Congress (NPC).

“We are giving priority to ensuring stable growth, employment, and prices, to realise a steady economic recovery,” Li said, presenting his last report as premier and the first of Xi’s third term as president.

Li is stepping down after a decade in the position and it will be up to his successor – expected to be long-time Xi ally Li Qiang – to pursue the targets outlined in the report for the coming year.

Among them is economic growth of around 5 per cent; a consumer price index increase of around 3 per cent, and the creation of 12 million urban jobs.

The key theme throughout Li’s speech was “stability”.

“This year, it is essential to prioritise economic stability and pursue progress while ensuring stability,” he told the thousands of NPC deputies and members of the Chinese People’s Political Consultative Conference (CPPCC) in the Great Hall of People.

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