chinese premier li qiang has announced that china is on track to achieve its annual growth target of around 5 despite some economic data missing analysts’ expectations this announcement was made on tuesday at the world economic forum’s annual meeting of the new champions held in tianjin china “china’s economy is clearly rebounding and improving this year” li stated during a livestream that provided an official english translation cnbc reports that the chinese economy grew by 45 in the first quarter better than expected however subsequent data have pointed to slower growth despite this li remains optimistic about the country’s economic rebound and improvement li’s confidence comes amid a change in leadership that saw him become premier in march following a twiceadecade leadership reshuffle in october that packed the core team with loyalists of chinese president xi jinping this follows recent tensions between the us and china with president joe biden referring to xi as a dictator a comment that sparked a strong response from china also read us intelligence agencies divided on wuhan laboratory origins of covid19 despite the geopolitical tensions and economic challenges china remains a major trading partner of many countries in the world this includes russia which has been increasing its crude oil exports to china following sanctions from europe investors interested in china’s economic performance might consider exchangetraded funds etfs like the ishares china largecap etf fxi or the spdr sp china etf gxc these etfs provide exposure to large and midsized companies in china now read xi jinping orders safety checks in wake of ningxia gas tragedy that killed 31 this content was partially produced with the help of ai tools and was reviewed and published by benzinga editors