China tries to keep steady hand on wheel of economy amid coronavirus pandemic, but fires salvo at Hong Kong
- Premier Li Keqiang’s annual work report stresses need for stability, but plans for Hong Kong national security law rattle markets and prompt threat of US retaliation
- National People’s Congress delegates told that annual growth target will be scrapped for first time due to uncertainty caused by Covid-19
The work report delivered by Chinese Premier Li Keqiang to thousands of delegates at the annual National People’s Congress on Friday was shorter than usual at 20 pages, but it packed a punch that rattled stock markets, sent a shiver through Hong Kong, and drew a sharp rebuke from Washington.
The gathering in Beijing – the most important event in this year’s political calendar – began with a minute’s silence for the thousands in China who had lost their lives in the Covid-19 outbreak.
Li described the pandemic as “the fastest spreading, most extensive, and most challenging public health emergency China has encountered since the founding of the People’s Republic” in 1949.
He said that for the first time China would not set an economic growth target, citing the outbreak’s toll on the economy, national security and international relations.
“We have not set a specific target for economic growth this year,” Li said. “This is because our country will face some factors whose development is difficult to predict due to the great uncertainty regarding the Covid-19 pandemic and the world economic and trade environment.”