Beijing has committed to making a domestic request to the main economic driver as escalating a trade war with exports to the United States.
China set the annual goal of a “about 5 percent” growth, promising that domestic demand will make its main economic driver as escalating trade war with the export of the United States.
The number of title growth on Wednesday announced by the Prime Minister Li Qiang on the annual communist party has also included a rare increase in fiscal funding, allowing a Chinese budget deficit to reach 4 percent this year because it is fighting youth, low consumer demand and debt crisis.
According to the plans, about 12 million new jobs will be created in Chinese cities, as Beijing is launching 2 percent of inflation this year.
“The ratio of a 3 percent to 4 percent budget deficit does not seem much, but this is the highest that has been set in three decades. So the government is committed to consuming more, “said Katrina Yu Al Jazeera, reporting from Beijing.
The Chinese government also undertaken to endure home demand a “main engine and anchor” growth, adding that Beijing should “move faster to deal with inadequate domestic demand, especially insufficient consumption.”
In a rare move, he said that China would increase its fiscal deficit by one percentage point, something that analysts said to give Beijing more geographical width to resolve their economic slowdown.
Addressing nearly 3,000 members of the National National Congress, whether in his 55-minute interview he recognized both international and domestic challenges.
“The increasingly complex and stricter external environment can have a greater impact on cinema in areas such as trade, science and technology,” the 32 pages report states.
“The domestic, foundation of Chinese sustainable economic recovery and growth is not strong enough. Effective demand is weak and consumption is slow. “
Mountaineering Budget
China also said in the draft budget that defense consumption would increase by 7.2 percent this year, as it quickly modernizes its armed forces despite regional tensions and strategic competition with the USA.
Since Xi Jinping became president and chief commander more than a decade ago, the Chinese defense budget was thrown at $ 1.78 trillion Yuan ($ 245 billion) this year with 720 billion Juan in 2013.
“President XI Jinping made it clear that he wanted to modernize the Chinese army by 2035, and a lot of money would go to military technology, better rockets, better submarines and the technology of rocket supervision,” said Katrina Yu Al Jazeera.
At the same time, the Chinese army tries to improve combat readiness through stricter training and exercises, according to official reports – many of which include Taiwanese scenarios and territorial claims in the southern Chinese sea.
Beijing believes that Taiwan part of his territory, but the island of the Pacific has had an independent government since 1949. Xi has repeatedly said that he does not want to delay uniting for a period of time – and if necessary, he used force.
China remains the second biggest military consumer behind the US, whose proposed military budget for $ 2025. $ 850 billion.
