It's the latest sign of the damaging toll that the pandemic has taken on the world's second biggest economy.
The coronavirus pandemic has forced China to drop its annual growth target for the first time since it began publishing GDP goals in 1990, in the latest sign of the crisis’ damaging toll on the world’s second biggest economy.... [+]ASSOCIATED PRESSThe omission of the GDP target overshadowed China’s delayed week-long gathering of lawmakers at the National People's Congress, its most important political event of the year.
China announced further stimulus in the form of 1 trillion yuan in treasury bonds for the first time, to potentially boost businesses and regions hard hit by the pandemic. Pre-pandemic, China had hoped to post targets of 6% growth, but this was not mentioned. Instead, Li said China had prepared the groundwork to “reach the goal of building a moderately prosperous society in all respects.”
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