Watch: Premier Li Qiang delivers speech detailing China's economic policies
China kept its economic growth target at roughly 5 per cent for the third year running.
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China's annual National People's Congress kicked off on Wednesday (Mar 5), with Premier Li Qiang delivering a speech detailing the country's economic policies for the rest of the year.
China will keep its economic growth target at roughly 5 per cent, the same as the previous two years.
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It also announced a 7.2 per cent hike in its defence budget for the year, keeping pace with its 2024 figure as the country marches on with its military modernisation drive amid a troubled geopolitical landscape.
Experts said the figure is ambitious given that the world's second-largest economy is still grappling with a sluggish real estate sector, lacklustre consumer spending and a mounting trade war with the United States.
