China is targeting growth of 'around 5%' this year and will take steps to catalyze a rebound after its economy stalled under strict COVID controls last year, says outgoing premier Li Keqiang.
Chinese Premier Li Keqiang speaks during the opening session of China's National People's Congress at the Great Hall of the People in Beijing, Sunday, March 5, 2023.Chinese Premier Li Keqiang speaks during the opening session of China's National People's Congress at the Great Hall of the People in Beijing, Sunday, March 5, 2023.
"This year, it is essential to prioritize economic stability and pursue progress while ensuring stability. Policies should be kept consistent and targeted, and they should be carried out in a more coordinated way to create synergy for high quality development," Li said at the opening ceremony of an annual series of meetings of the country's parliament, the National People's Congress.
But for the past two decades, China's military budget has been steadily increasing, first at a double digit pace until 2016 before dipping down to around 6% to 7% increases annually. The country has embarked on an ambitious military modernization project to reorganize its fighting forces and invest more in defense technologies.
"We must persist in implementing the Party's overall strategy for resolving the Taiwan issue," he said."It is necessary to promote economic and cultural exchanges and cooperation between the two sides of the strait." From left, Li Zhanshu, Chinese President Xi Jinping, and Premier Li Keqiang stand during the opening session of China's National People's Congress at the Great Hall of the People in Beijing, Sunday, March 5, 2023.From left, Li Zhanshu, Chinese President Xi Jinping, and Premier Li Keqiang stand during the opening session of China's National People's Congress at the Great Hall of the People in Beijing, Sunday, March 5, 2023.
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