China abandons GDP target for first time in decadesChristian Fernsby ▼ | May 22, 2020
China for the first time in decades will not have a GDP growth target for 2020 given the global economic uncertainties because of the coronavirus pandemic, a government work report released by Premier Li Keqiang said Friday.
GDP China port
Topics: China GDP
In a draft budget report submitted to the NPC, the government also set a 6.6 percent growth rate for its defence budget, lower than the 7.5 percent rise in 2019, an outlay that’s closely followed globally.
The proposed defense budget stands at 1.268 trillion yuan ($178 billion), according to the draft budget. ■