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China People's Congress

China abandons economic growth target for first time in decades

Move suggests country may not reach goal of doubling 2010 GDP this year

Chinese Premier Li Keqiang returns to his seat next to President Xi Jinping after announcing that due to "uncertainty regarding the COVID-19 pandemic," the government would not set an annual economic growth target for the first time in decades.    © Reuters

SHANGHAI -- Chinese Premier Li Keqiang did not announce an economic growth target for this year, marking the first time in three decades the government has skipped setting that goal in its annual blueprint.

In a work report presented on Friday in Beijing at the delayed start of the annual session of the National People's Congress, China's legislature, Li said the government foresees its 2020 budget deficit rising to more than 3.6% of gross domestic product, up from 2.8% last year.

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