“Last March, Chinese President Xi Jinping and other high-ranking officials attending the National People’s Congress held at the Great Hall of the People in Beijing are seen singing the national anthem. This year, the Two Sessions will again be held here on the 4th. Yonhap News.”
“The Chinese government has set this year’s economic growth target at ‘around 5%’, Reuters reported on the 5th.
“The growth target is included in the work report of the National People’s Congress (NPC), which opened on this day. It is the same as the target set in the previous two years.
“The Chinese government has set this year’s consumer price index (CPI) target at about 2%, below 3% for the first time since 2004. This is the lowest target in 20 years and can be interpreted as an acknowledgment of slowing demand.
“China has expanded its fiscal deficit ratio to a record 4% of GDP this year. The intention is to implement a more aggressive fiscal policy to increase the deficit ratio and boost spending intensity.
“China’s defense budget increase rate is set at 7.2% compared to last year, surpassing 7% for four consecutive years.
“The unemployment rate target remains at 5.5%, the same as last year.
“New employment is also set at 12 million people, the same as the previous year.