At the end of a week-long session, China’s People’s Congress approved an economic growth target of around five percent, but China’s new Premier Li Chiang warned that it would not be easy to achieve. At the same time, he emphasized the importance of the private sector.
Li Chiang from the end of the session, he was also critical of the USA, but at the same time called for cooperation between the two countries.
The Chinese government this month set its economic growth target at about five percent, one of the lowest in decades. Last year, it wanted to achieve 5.5% growth, but in the end the consequences are severe anti-coronavirus measures and the crisis on the real estate market recorded a three percent increase.
Li, one of the president’s closest allies Sew Jingpingwho was confirmed as Prime Minister last weekend, after that when he said goodbye after two terms Li Keqiang, today warned of difficulties in achieving the goal this year as well. “I am afraid that reaching the five percent growth target will not be an easy task and we will have to redouble our efforts,” said Li at the press conference at the end of the session of the People’s Congress. “Stabilizing economic growth is a challenging task, not only for China, but also for all countries in the world,” as reported by the German news agency DPA, Li also said.
In order to stimulate the economy, China plans to increase its debt slightly this year compared to last year. Among other things, the budget, which was approved today by just under 3,000 delegates, foresees a 7.2 percent increase in funds for the military due to geopolitical tensions.
“Economic development is key to new jobs,” said the 63-year-old prime minister after the session. At the same time, he announced the improvement of conditions for the private sector. “Private entrepreneurs and companies will have a better environment and more room for development,” he said, announcing the strengthening of support to the private sector.
“China and the US should and must cooperate”
Today, Li also highlighted the United States, with which Beijing currently has the worst relations in decades in terms of trade, technology and security. “Encirclement and oppression are not in anyone’s favor,” he said. “China and the US should and must work together. When China and the US work together, we can achieve a lot.”
For the first time since Congress gave him a third term as head of state, he also addressed the delegates Sew Jingping, who emphasized the importance of strengthening national security. “Security is the cradle of development, and stability prerequisite for prosperity,” he said. He advocated modernizing the military to become a steel “Great Wall of China” to protect national sovereignty and security. He also called for the consolidation of stability in Hong Kong and for unification with Taiwan, which China perceives as part of its territory. “The great rejuvenation of the Chinese nation has entered an irreversible historical process,” he believed and promised that in the third term his mission would be the needs of the country.
Source: Rtvslo
