Chinese Premier Li’s Annual Growth Target Not Announced Corona Virus May 22 18:41
In China, the National People’s Congress, which decides important policies, began, and Premier Li Keqiang did not announce the numerical target slated for the annual economic growth rate, which has been set annually, in response to the significant impact on the economy due to the spread of the new coronavirus infection. This is the first time since the 1990s that the Chinese government has failed to set a numerical target for economic growth for all people.
In response to the spread of the new coronavirus, representatives of nearly 3,000 people, including President Xi Jinping, attended the event at the Great Hall of the People in Beijing two and a half months later, and at the beginning, all of them offered their condolences and expressed their condolences to those who died in the infection.
Then, Prime Minister Lee Katsuyan reported on government activities and stressed the results of the expansion of the new coronavirus, saying, “Under the strong leadership guidance of President Xi at the heart of the administration, the measures have achieved significant strategic results.”
On the other hand, he acknowledged that there were insufficient points in the government’s response, saying that “many weak parts of infectious disease countermeasures should surface and the opinions and proposals of some of the people should be emphasized.”
Regarding the numerical target slower annual economic growth rate, which is usually set out at all generations of the year, he said, “We are facing factors that are difficult to predict. We will not provide specific annual targets for economic growth.”
It is the first time since the 1990s that the Chinese government has forsesaw the presentation of its goals, when it became common to set annual growth targets for all people.
In addition to issuing special government bonds to implement the new coronavirus measures in the Japanese yen at a scale of approximately 1 trillion yen, the amount of bonds used by local governments for infrastructure projects has expanded significantly from last year, and the company has set out a policy to support the economy, which has been depressed by aggressive fiscal policy, such as a more than 1 trillion yen.
On the other hand, Prime Minister Lee said that hong kong, where protests continue, “must establish a legal system and enforcement mechanisms to protect national security”, and expressed his intention to advance legislation to maintain security in this year’s total.
He also said that “we must resolutely oppose and stop the actions of the division that fosters independence” about Taiwan, and to control the Chinese government, which rejects the “one country and two systems” that China considers appropriate as a way to unify Taiwan.
He also implicitly criticized the United States for its response to the new coronavirus, stressing the idea of working with the World Health Organization to “strengthen cooperation in combating infectious diseases with each country and protect the international system centered on the United Nations.”
Without presenting the growth target, the background is
In this year’s generation, we did not announce the numerical target of the annual economic growth rate that we have set out every year.
China’s economy grew at a negative rate for the first time since 1992, when quarterly data was released, with gdp growth of minus 6.8 percent in the first quarter from January to March.
In addition to the current situation in the domestic economy, which has been hit hard by the failure to present its growth target, the global economic outlook may not be possible due to the spread of infectious infections overseas.
In his report on government activity on Tuesday, Premier Li Keqiang expressed a severe view of the economic outlook, saying that “the decline of the global economy has worsened, domestic consumption, investment and exports have declined, and the severity of the employment situation has become remarkable.”
In addition, the employment-related indicators included in the government activity report have lowered the target for new employment by 9 million and 2 million more than last year, and the target for urban survey unemployment is around 6 percent, and 0.5 points worse than last year, and xi Jinping’s leadership has cautious views on employment.
In the plan for economic development submitted by the whole generation, xi Jinping’s leadership is under pressure to manage an extremely difficult economy, although he says that growth is not necessary just because he does not set a target.
The point of economic measures is
In a report on government activity on March 22, Premier Li Keqiang set out a policy of aggressively fiscal stimulus to support the depressed economy.
In addition to expanding the government’s budget deficit, increasing spending by about 1 trillion yuan and Japanese yen by approximately 1 trillion yen, special government bonds for implementing anti-virus measures will also be issued, and all expenditures of the combined amount of 1 trillion yen will be used for economic measures by local governments.
In addition, the amount of bonds issued by local governments to invest in infrastructure will also increase significantly by increasing the amount of rmb 1.2 trillion from last year, with more than 1.0 trillion yen in The Japanese Yen.
By utilizing these funds, the company will use the next-generation communication standard “5G” and electric vehicle charging stations to develop new demand at the same time as infrastructure improvements, as well as to improve living conditions such as the renovation of old public housing and the development of railways.
In addition, in order to support small and medium-sized enterprises, the burden will be reduced by tax cuts and reductions in social insurance premiums, reducing the burden of RMB 2.5 trillion and 37 trillion yen.
Unusual response in the Corona Virus
The number of reporters who can be interviewed is narrowed down from the previous year, and many press conferences are held online, and representatives and reporters of all the people who enter and leave the Great Hall of the People are required to conduct viral tests.
Every year, about 2,000 domestic reporters and about 1,000 foreign journalists are allowed to cover the interview, but according to the Chinese media, the number of people is limited to about a few hundred people this time.
As measures against the new coronavirus continue to be taken, it is seen as a measure to avoid the crowd of reporters at the coverage site.
In addition, only reporters invited by the Chinese government are allowed to enter the press center, and the rest of the reporters are allowed to review videos of press conferences and download materials on a special website.
The press conference sat in the press center in a way that connects reporters at the press center via the Internet, and the representatives will respond online.
Reporters entering the press center are required to undergo a virus test elsewhere, and in some cases they are instructed to come to the inspection site nine hours before the interview.
On the other hand, nearly 3,000 representatives of all the people were tested for the virus before entering the Great Hall of the People, and Chinese media reported that the representatives of Henan province had been tested twice before entering Beijing and after arriving at the hotel where they stayed, and that all were negative.