 "Xi Jinping")
China’s government has set a conservative economic growth target for this year, shifting its focus from recovery mode to longer-term challenges like reining in debt and reducing technological dependence on the US.
The growth target was set at above 6 per cent, well below economists forecasts, with the budget deficit expected to fall to 3.2 per cent of gross domestic product, Premier Li Keqiang said Friday at the opening of the National People’s Congress. China projected defence spending growth of 6.8 per cent this year, the largest gain since 2019, amid tensions with the US and key neighbours.
The growth target was set at above 6 per cent, well below economists forecasts, with the budget deficit expected to fall to 3.2 per cent of gross domestic product, Premier Li Keqiang said Friday at the opening of the National People’s Congress. China projected defence spending growth of 6.8 per cent this year, the largest gain since 2019, amid tensions with the US and key neighbours.
