China’s leaders effectively acknowledged the struggling economy won’t hit its official 5.5% growth target this year and said Thursday they will try to prop up sagging consumer demand but will stick to strict anti-COVID-19 tactics that disrupted manufacturing and trade.
The announcement after a Communist Party planning meeting reflected the high cost President Xi Jinping’s government has been willing to incur to stop the virus in a politically sensitive year when Xi is widely expected to try to extend his term in power.
