Growth in the first quarter of the year contracted by 6.8 per cent after China’s economy ground to a halt during the coronavirus outbreak.
China’s National People’s Congress has not set a gross domestic product target for the first time as the country faces its most severe economic downturn since the 1970s in the wake of the coronavirus outbreak.
The growth target has in the past been included in the work report presented at the political event, which was delayed by almost three months this year due to the outbreak. The work report this year does not contain the target.
While many experts do not trust China’s reported economic figures, the target often provides guidance on the central government’s confidence in underlying economic conditions.
Growth in the first quarter of the year contracted by 6.8 per cent after China’s economy ground to a halt during the coronavirus outbreak. Many economists’ outlooks for 2020 are less than half of the rate of growth posted last year.
Submitted May 21, 2020 at 10:04PM by daynightcase https://ift.tt/2AS7eST
