Premier Li Keqiang delivering the work reports at the opening session of the China's National People's Congress at the Great Hall of the People in Beijing. Photo: AP

China lowers 2019 GDP growth target to 6-6.5 per cent range

  • Gross domestic product growth target released on Tuesday morning in Premier Li Keqiang’s annual report to the National People’s Congress
  • Target down from ‘about 6.5 per cent’ set for last year due to US-China trade war, an already high debt level and financing bottlenecks for private enterprises
Topic |   China economy

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Premier Li Keqiang delivering the work reports at the opening session of the China's National People's Congress at the Great Hall of the People in Beijing. Photo: AP
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Chinese Premier Li Keqiang appears on a screen as he speaks during the opening of the second session of the 13th National People’s Congress outside the Great Hall of the People in Beijing. Photo: EPA

China raises 2019 budget deficit target on promises of tax cuts and infrastructure spending to stem slowdown

  • Deficit target raised to 2.8 per cent of gross domestic product from 2.6 per cent in 2018, providing more fiscal leeway for government spending
  • Business and personal taxes to be cut by 1.3 trillion yuan (US$194 billion), more than the 1.1 trillion yuan in cuts last year, Premier Li Keqiang said on Tuesday
Topic |   Two Sessions 2019 (Lianghui)

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Chinese Premier Li Keqiang appears on a screen as he speaks during the opening of the second session of the 13th National People’s Congress outside the Great Hall of the People in Beijing. Photo: EPA
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