China, no specific economic growth target - farsighted move due to complicated domestic and global situation

BEIJING: China decided not to set a specific annual economic growth target for 2020. It is a wise, farsighted and responsible decision to cope with complicated domestic and global situations. The new narrative in the government work report submitted Friday (May 22) to the country's national legislature.

Visitors dressed in traditional attire walk past the Forbidden City in Beijing, China, on Friday . The Chinese government abandoned its decades-long practice of setting an annual target for economic growth amid the storm of uncertainty unleashed by the coronavirus pandemic, and said it would continue to increase stimulus. - Bloomberg

The epidemic has taken a heavy toll on the Chinese economy in the first quarter, as the gross domestic product shrank 6.8 percent year on year. The report highlights the importance attached to promoting employment, giving full play to market entities and improving people's livelihoods.

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