BEIJING, March 5 — China kept its economic growth target for this year unchanged at roughly 5 per cent, committing more fiscal resources than last year to fend off...
Thai court takes on US$73m lawsuit against conglomerate CP, owned by Thailand’s second richest family, over invasive fish crisisPremier Li Qiang will deliver a speech at the NPC later on Wednesday, detailing China ’s policies for the rest of the year.
Trump has also dangled tariffs at a long list of countries, including some which would consider themselves staunch US allies, threatening a decades-old global trade order that Beijing has built its economic model around. From the central government’s special debt funds, 300 billion yuan will support a recently-expanded consumer subsidy scheme for electric vehicles, appliances and other goods.
Beijing also plans to use 500 billion yuan of the special debt funds to re-capitalise major state banks and 200 billion yuan on supporting manufacturing equipment upgrades.China’s 5per cent growth rate last year, which the government only reached with a late stimulus push, was among the world’s fastest, but it was hardly felt at street level.
Since Trump took office in January, his administration has so far added an extra 20 percentage points on existing import tariffs for Chinese goods, with the latest 10-point increment having kicked in on Tuesday.
Keeps 5Pc Growth Target Ramps Up Spending To Counter US Tariffs Deflation Risks
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