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Keegan Elmer

Teddy Ng

Jane Cai

China on Tuesday set its economic growth target of 6.0 to 6.5 per cent for 2019, down from last year’s target of “about 6.5 per cent.”
The figure was revealed in the government work report to be delivered by Premier Li Keqiang as the National People’s Congress opens.
A separate report will announce the targeted defence budget.
This annual gathering of China’s political elite comes a year after President Xi Jinping amended the constitution to remove a presidential term limit and ahead of the 70th anniversary of Communist Party rule later this year.
SCMP covered it live here:




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

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

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

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

Workers test industrial robots at a factory of Topstar Technology during a government-organised tour to the Guangdong-Hong Kong-Macao Greater Bay Area, in Dongguan, Guangdong province, China March 1, 2019. Picture taken March 1, 2019. REUTERS/Yuyang Wang NO RESALES. NO ARCHIVE.

Military delegates arrive at the Great Hall of the People before the opening session of China's National People's Congress (NPC) in Beijing, Tuesday, March 5, 2019. China's government announced a robust annual economic growth target and a 7.5 percent rise in military spending Tuesday at a legislative session overshadowed by a tariff war with Washington. (AP Photo/Mark Schiefelbein)

TOPSHOT - US President Donald Trump (R) takes part in a meeting with China's Vice Premier Liu He (L) in the Oval Office of the White House in Washington, DC on February 22, 2019. - Just a week remains to avoid a sharp increase in US duty rates on more than $200 billion in Chinese exports -- though Trump has suggested he could extend the March 1 deadline. (Photo by MANDEL NGAN / AFP)

FILE PHOTO: Chinese 100 yuan banknotes are seen in a counting machine while a clerk counts them at a branch of a commercial bank in Beijing, China, in this March 30, 2016 file picture. REUTERS/Kim Kyung-Hoon/File Photo

Students have class at Ririxin School in Changing district, Beijing, on Jun. 28, 2018. 28JUN18 [FEATURES EDUCATION] SCMP / Simon Song

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

News

China

Politics

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


Value-added taxes cut more than expected and state firms have to hand in more profits to bridge fiscal shortfall, while defence budget growth slashed from 8.1 per cent to 7.5 per cent.


Two Sessions 2019 (Lianghui): All Articles

Two Sessions 2019 (Lianghui)

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

.css-1mniedq{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;}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

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