Menu Content
Go Top

Economy

China Lowers Growth Target Amid Trade Dispute with US

Written: 2019-03-05 13:23:56Updated: 2019-03-05 14:45:28

China Lowers Growth Target Amid Trade Dispute with US

Photo : YONHAP News

China has set its lowest growth target in nearly three decades as it faces a slowing economy amid its trade dispute with the U.S.

In a report presented at the National People's Congress on Tuesday, Premier of the State Council Li Keqiang set the country’s growth at six to six-point-five percent, down from last year's target of six-point-five percent.

The latest growth target is the lowest since growth sank to three-point-nine percent in 1990 because of international sanctions sparked by the Tiananmen Square protests.

While pledging to push for qualitative growth and an expanded opening of the domestic market, Li said China must be fully prepared for a "tough struggle" as it will face a "complicated environment with many risks and challenges."

Outlining the challenges China faced in the past year, Li blamed slowing domestic demand and “mounting protectionism and unilateralism,” an apparent reference to the U.S.

Editor's Pick

Close

This website uses cookies and other technology to enhance quality of service. Continuous usage of the website will be considered as giving consent to the application of such technology and the policy of KBS. For further details >