BEIJING – China has not set a gross domestic product target this year for the first time in history, a move widely expected by economists.

Premier Li Keqiang will be presenting his work report on Friday morning (May 22) at the Great Hall of the People, where he typically announces a growth target for the year.

The work report contains an urban unemployment rate target of around 6 per cent, compared to 5.5 per cent last year. Urban job creation was set at 9 million, compared to 11 million last year.

Before the coronavirus outbreak, economists had expected Beijing to set a GDP target of around 6 per cent for this year. Last year, China’s economy, battered by a fierce trade war with the US, grew 6.1 per cent which was the country’s slowest rate of growth since 1990.

Premier Li had announced at the opening of last year’s parliament session a growth target of between 6 and 6.5 per cent.

Analysts had predicted that China would not set a GDP growth target this year, given the uncertainties in the economy and worries of another wave of outbreak.

The economy contracted 6.8 per cent in the first three months of the year, the worst on record.

Some 5,000 delegates from around the country have gathered in Beijing for the annual parliamentary meetings, better known as Two Sessions, or lianghui.

Traditionally held in March, it was postponed this year because of the coronavirus outbreak and will be shortened from about 10 days to a week.

The country’s top political advisory body, the Chinese People’s Political Consultative Conference, began its session on Thursday.

Nearly 3,000 lawmakers will meet to take stock of the government’s work over the past year, pass laws and approve budgets at the National People’s Congress meeting starting Friday.

Among proposals that the legislators will discuss is a draft resolution for a controversial national security law aimed at curbing subversive or terrorist activities and foreign interference in Hong Kong.

Parliamentarians are also expected to pass China’s first civil code, which has been years in the making. The hefty 84-chapter Bill covers a large swathe: from personal data protection, property rights to sexual harassment.

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