China cuts economic growth goal as it tries to reverse slump

By JOE McDONALD
Associated Press

BEIJING (AP) — China has cut its annual economic growth target to its lowest level in decades as Beijing tries to reverse a slump at a time when Russia’s war on Ukraine is pushing up oil prices and roiling the global economy. The country’s No. 2 leader, Premier Li Keqiang, said in a report to legislators that Beijing will aim for growth of “around 5.5%.” Li said achieving that requires “arduous efforts.” Forecasters say Russian President Vladimir Putin’s attack on Ukraine is likely to have little impact on China, though the energy-hungry economy might suffer from higher energy costs. Beijing has tried to distance itself from Putin’s war by calling for dialogue but has refused to join other governments in condemning the attack.