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Wuhan targets 10 percent growth in 2021

  Wuhan, the central Chinese city hit hard by the COVID-19 epidemic early last year, has set its GDP growth target at 10 percent for 2021.

  The capital city of Hubei Province managed to stage a strong economic recovery last year after its GDP shrank by 40.5 percent year on year in the first quarter due to a long-period lockdown to contain the epidemic.

  In the whole of 2020, the city's GDP retreated by 4.7 percent to 1.56 trillion yuan (about 242 billion U.S. dollars), Wuhan's acting mayor Cheng Yongwen said while delivering the government work report at the city's annual legislative session on Friday.

  The city's government now targets 10 percent growth for fixed-asset investment and 15 percent growth for retail sales. It also aims to create 210,000 new jobs in the urban areas this year, according to Cheng.

  Source: Xinhua