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China has abandoned a numerical GDP growth target for 2020 and vows to increase government spending as the economy struggles in the wake of the coronavirus outbreak and increasing global uncertainties.
Chinese Premier Li Keqiang announced the change in his annual government work report delivered to the National People’s Congress, the country’s top legislature, during its annual session in Beijing on Friday.
The omission from Premier Li Keqiang’s work report marks the first time China has not set a target for gross domestic product (GDP) since the government began publishing such goals . . .
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