Chinese Premier announces economic measures
Chinese Premier Li Qiang announced measures to boost the economy, including fiscal austerity and 5% economic growth target. China aims to create 12 million new urban jobs and relax restrictions on foreign investment. The defense budget will increase by 7.2%.
Key Points
- 5% economic growth target
- Creation of 12 million new urban jobs
- Relaxation of foreign investment restrictions
- 7.2% increase in defense budget
Pros
- Measures to boost the economy and create jobs
- Relaxation of restrictions on foreign investment
- Increase in defense budget to support national defense
Cons
- Fiscal austerity may impact some sectors
- Uncertainty around the easing of restrictions on foreign investment