(Joe McDonald – Associated Press)
China announced a robust annual economic growth target and a 7.5 percent rise in military spending Tuesday as it convened an annual legislative session overshadowed by a tariff war with Washington.
Seeking to defuse U.S. and European complaints the Chinese system is rigged against foreign companies, Premier Li Keqiang promised in a speech to the National People’s Congress that they will be “treated as equals” with their Chinese competitors.
Li, the country’s top economic official, set this year’s growth target at 6 to 6.5 percent, reflecting determination to shore up a cooling state-dominated economy and prevent politically dangerous job losses. Such a growth rate, if achieved, would be among the world’s strongest. Yet it would be slightly below last year’s 6.6 percent growth in China and would mark a new three-decade low. Click here to read more.
- China Just Slashed Its Target for Economic Growth (Business Insider)
- China Warns of ‘Tough Struggle’ as it Cuts Growth Target to Lowest Since 1990 (The Guardian)
- Beijing Unveils $298 Billion Tax Cuts to Boost Growth (BBC News)
- U.S. Confirms It’s Delaying China Tariff Increase Indefinitely (Bloomberg)