The poor world economy and the trade dispute with the US makes China’s economy to create growth. The head of government Li Keqiang wants to “energetic” measures against tax.
At the start of the annual National people’s Congress in Beijing, Prime Minister Li Keqiang gave a growth target of 6.0 to 6.5 percent for 2019. In the past year, growth in the second-largest economy, which was dominated for a long time of double-digit growth rates had amounted, according to official data, 6.6 percent – the lowest level since almost three decades.
The people’s Republic had to prepare themselves economically for a “tough battle,” said Li in his speech before the approximately 3000 delegates. The economic development will be influenced by a “more challenging and more complex environment,” and an increasing number of larger “risks and challenges”.
Li Keqiang, after his speech to The 3000 delegates will meet for two weeks in Beijing
To support the economy, will be China’s financial policy, “energetic,” announced Li. Tax will relief and other relief for the company in the volume of the equivalent of more than 260 billion euros. At the same time, the budget deficit is expected to grow this year by 0.2 percentage points to 2.8 percent of gross domestic product.
The defence expenditure is to rise by 7.5 percent to the equivalent of 156 billion euros. In the past year, China’s defense budget had grown after the USA the second largest in the world – even by 8.1 percent.
With a view to the trade dispute with the U.S., adding China’s economy, Li said that negotiations with Washington would continue to be driven forward. The National people’s Congress convenes for about two weeks and is expected to adopt at this time a bunch of laws. Including a law on foreign investment in some of the claims of the United States in trade dispute with Beijing could be picked up.
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China and the USA struggle to find a solution to the trade dispute
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Hope at the end of the trade dispute (07.01.2019)