China lowers economic growth target for 2019
- 5 years ago
China started its so-called "two sessions" meeting on Sunday.... amid Beijing's ongoing trade tensions with the U.S.
At this annual event.... China released its highly-anticipated growth target for 2019.
Ko Roon-hee reports.
One of China's largest political events is dubbed the "two sessions"...because it's where both the National People's Congress and the advisory body, the Chinese People's Political Consultative Conference, come together to establish China's goals for the next twelve months.
On Tuesday, the National People's Congress started its session in Beijing...with Premier Li Keqiang presenting China's growth target for 2019 in his annual work report.
The goal for GDP growth was set at a range of six to six-point-five percent... lower than last year's six-point-five percent.
In 2018, China's economy grew by six-point-six percent,... the slowest pace in 28 years.
Analysts attribute the lower target to the ongoing trade spat between Washington and Beijing...which has negatively affected Chinese businesses.
Low domestic demand was another reason.
Premier Li said...China is confronted with complicated situations this year...but will overcome the difficulties thanks to the nation's capabilities.
Other than the growth rate, Premier Li's report also revealed China's target for consumer price inflation at around three percent.
In terms of employment, China aims to create eleven-million new jobs in urban areas...and maintain the unemployment rate in those areas at around five-and-a-half percent.
The budget deficit goal was set at two-point-eight percent of GDP...up from two-point-six percent last year.
Ko Roon-hee, Arirang News.
At this annual event.... China released its highly-anticipated growth target for 2019.
Ko Roon-hee reports.
One of China's largest political events is dubbed the "two sessions"...because it's where both the National People's Congress and the advisory body, the Chinese People's Political Consultative Conference, come together to establish China's goals for the next twelve months.
On Tuesday, the National People's Congress started its session in Beijing...with Premier Li Keqiang presenting China's growth target for 2019 in his annual work report.
The goal for GDP growth was set at a range of six to six-point-five percent... lower than last year's six-point-five percent.
In 2018, China's economy grew by six-point-six percent,... the slowest pace in 28 years.
Analysts attribute the lower target to the ongoing trade spat between Washington and Beijing...which has negatively affected Chinese businesses.
Low domestic demand was another reason.
Premier Li said...China is confronted with complicated situations this year...but will overcome the difficulties thanks to the nation's capabilities.
Other than the growth rate, Premier Li's report also revealed China's target for consumer price inflation at around three percent.
In terms of employment, China aims to create eleven-million new jobs in urban areas...and maintain the unemployment rate in those areas at around five-and-a-half percent.
The budget deficit goal was set at two-point-eight percent of GDP...up from two-point-six percent last year.
Ko Roon-hee, Arirang News.