China’s premier promises 13 million jobs to reverse slump

By JOE McDONALD
AP Business Writer

BEIJING (AP) — China’s No. 2 leader says the government hopes to generate as many as 13 million new jobs this year to help reverse a painful economic slump but faces “many difficulties and challenges.” Forecasters say the ruling Communist Party is likely to struggle to meet its official 5.5% economic growth target, the lowest since the 1990s. That would be down sharply from last year’s 8.1% expansion as China contends with a crackdown on business debt, the coronavirus, weak global export demand and high energy prices. Premier Li Keqiang promised “pro-job policies” including tax and fee cuts totaling $400 billion for businesses.