JUST AS THE sun rises in the east and people need water to survive, so has China’s rubber-stamp parliament, the National People’s Congress, convened its plenary session every March and opened the session with a lengthy—nay, soporific—“work report” from the prime minister. This year is different for two reasons. First is the coronavirus pandemic, which had delayed the NPC itself by nearly three months.
The move is unprecedented but not completely unexpected. Article 23 of China’s mini-constitution for Hong Kong, the Basic Law, requires the local government to enact such a law. But a previous attempt, in 2003, was shelved after huge protests.
The government normally uses a GDP target to broadcast its intentions for the economy. The target has, for years, also given central leaders a way to manage local officials in far-flung places—a simple criterion by which to judge their performance. So the government remained wedded to the practice of GDP targeting even as many economists criticised it for causing distorted incentives.
In any event, it is not as if China has forsaken the pursuit of fast growth. In his annual work report to the parliament, Mr Li laid out other targets that augur well for the economy. He said the government would aim for a fiscal deficit of 3.6% of GDP, the highest on record and above last year’s 2.8% deficit. With plans for the central and provincial governments to issue an additional 4.
However, the military budget will continue to grow
the good news is the West don't even have a target.
No one this year will believe the usual fiction of 6-7% growth. So yes suspend guidance this year- return to the fallacy next year.
Why is your EU not menacing to void the trade deals with China then? Why do we put our people on the dial and let Chinese work? Because the EU is an ugly regime, like China.
Taiwans situation has shown that the Chinese government can be very tolerant to anomalies in its make up when it is not directly challenged in an embarrassing way Rage & publicity seeking statements are more likely to worsen the situation than private meetings behind closed doors
Rioting must stop. They call for Freedom of Speech, Democracy while not letting other HK locals oppose them. set locals on fire, assaulted for telling rioters to stop. Definition of Domestic Terrorism. USA would have used military tactics if that happened in USA
I can't believe this, why are there so many people hate CCP in HK
--------We're all realDonaldTrump - 'People may see the wound in your head, but they don't feel the pain you're in?
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