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A Treasury Committee report this week stopped short of recommending a change in the law to force businesses to accept cash, but said the government had to improve its monitoring of the issue.

“Every year we embark training camp, the journey of a season, with the goal of putting another banner up, and any season we don’t do that, we’ve fallen short of our ultimate goal here,” Pelinka said as he began Thursday’s news conference.

By the end of 2024, the state’s population nearly eclipsed its pre-pandemic peak, but was still around 9,000 people short of the previous high-water mark from April 2020, reflecting slow growth in the years since then.

Perhaps it will fall short of that.

Goldman Sachs has forecast that China's economy will grow by 4.5% this year, short of the government's target: 5%.