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Business Maverick: Here Are the Highlights of China’s 2020 Economic Targets

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Economic fallout from the coronavirus pandemic caused China’s government to avoid setting a formal GDP growth forecast for this year, while predicting a swelling budget deficit and setting a more modest target for employment expansion.

Every year, the Chinese State Council, the National Development and Reform Commission and the Ministry of Finance release reports before the NPC opening ceremony. This year’s annual meeting, which was delayed by more than two months due to the coronavirus outbreak, will last for about a week and conclude on May 28.Key economic targets from the reports include:Deficit ratio at more than 3.6% of GDP — a more than 10-year high — versus 2.

Stick to “one country, two systems” for Hong Kong governing, and refine system to safeguard national security in Hong KongTo keep yuan stable at reasonable and equilibrium levelBuild more charging facilities, promote new energy vehicle development

 

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