Premier Li Keqiang delivered the government work report during the opening of the National People’s Congress in Beijing. Photo: Bloomberg

Six key takeaways from China Premier Li Keqiang’s annual policy blueprint

  • The government set the economic growth target for 2019 in a range of 6.0 to 6.5 per cent during the opening of the National People’s Congress
  • Beijing also announced a significant 3 percentage points cut in value-added tax rate for manufacturers to 13 per cent
Topic |   Two Sessions 2019 (Lianghui)

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Premier Li Keqiang delivered the government work report during the opening of the National People’s Congress in Beijing. Photo: Bloomberg
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The second session of the 13th National Committee of the Chinese People's Political Consultative Conference (CPPCC) opens at the Great Hall of the People in Beijing. Photo: Xinhua

China cuts taxes and defence budget growth, demands more profits from state firms

  • Value-added taxes cut more than expected. State firms have to hand in more profits to bridge fiscal shortfall
  • Defence budget growth slashed from 8.1 per cent to 7.5 per cent
Topic |   Two Sessions 2019 (Lianghui): Top Priorities

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The second session of the 13th National Committee of the Chinese People's Political Consultative Conference (CPPCC) opens at the Great Hall of the People in Beijing. Photo: Xinhua
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