Chinese planners promise 12 million jobs, economic rebound following Covid

Chinese economic officials expressed confidence Monday they can meet this year's growth target of around 5 per cent by generating 12 million new jobs and encouraging consumer spending following the end of anti-virus controls that kept millions of people at home.

The Cabinet planning officials announced no details of spending or other initiatives to revive growth that slumped to 3 per cent last year, the second-lowest in decades. But they said they plan an array of measures to meet goals announced Sunday by Premier Li Keqiang by raising incomes and encouraging innovation.

Efforts to revive the Chinese economy have global implications after weak retail, auto and housing sales depressed demand for imports. The country is the biggest export market for its Asian neighbours and an important revenue source for Western companies.

There are many policy tools in our toolbox, the deputy chairman of the National Reform and Development Commission, Li Chunlin, said at a news conference held durin