China’s Economic Officials Defend 5% Growth Target with Potential Liquidity Boost

China’s top economic officials are standing firm on the nation’s plan to achieve around 5% economic growth this year, despite skepticism from some economists. Pan Gongsheng, governor of the People’s Bank of China, mentioned the potential for a liquidity boost by cutting the reserve requirement ratio for banks to encourage lending. Meanwhile, Zheng Shanjie, chairman of the National Development and Reform Commission, expressed confidence in the country’s growth outlook, emphasizing that the GDP goal is achievable with concerted effort.