MNI BRIEF: China's 5% GDP Target Needs Policy Support-Li Qiang

Achieving the government's 5% GDP growth this year "will not be easy" as the external environment remains unpredictable and stabilising the economy is challenging, said China's new premier, Li Qiang, on Monday.

The high base effect of China's economy meant reaching 5% would require policy combinations to expand demand, stabilise the macro environment, and prevent systemic risks, Li said at a press conference.

High quality growth was now the top priority, with people paying less attention to GDP growth than before, and more concerned by improving livelihoods, incomes and the environment.

China will continue on the path of reform and opening up, with private firms and entrepreneurs given full support from the government and broader space to grow and develop, Li said. Foreign firms would be given improved market access to explore opportunities.

Li said 15 million people per year are entering the workforce, and China's talent dividend is strong. China would pursue an employment-first policy to expand training and regulate new forms of employment.