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The following lists highlights from Chinese press reports on Wednesday:
- China expressed its confidence in the the economic recovery by setting a goal of "more than 6%" growth in 2021, said the official People's Daily in a commentary. The economy is resilient and dynamic, as proved by exports increasing 50% y/y in the first two month and box office receipts of CNY12 billion in February, the highest in a single month, the Daily said. The low-end GDP growth target enables China to pursue structural reforms this year, the commentary said. Most analysts expect China's growth to be about 8% this year, MNI noted.
- U.S. President Biden's pandemic relief plan has shown that the country's system encourages the pursuit of immediate interests and that the current administration risks side effects including a huge debt burden, said Global Times in an editorial. Conversely, China restrained from assuming massive stimulus, it said. The U.S. economy is a dangerous system under increasing pressure and is bound to explode sooner or later, the newspaper said.