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China will not set GDP target for 2020 as COVID-19 batters global economy Updated: 2020-05-22 17:21:40 KST

No economic growth target for China in 2020.
Beijing skipped setting a specific GDP goal for the first time ever, admitting that China was facing an unpredictable time.

"This is because the country will face some factors that are difficult to predict due to the great uncertainty regarding the COVID-19 pandemic and the world economic and trade environment."

But analysts also point out that Beijing could be keeping quiet about its growth targets to prevent the U.S. from using stronger measures against China.

"Because China is running a conflict right now between President Trump, conflict of words, China may believe that a type of positive, optimistic growth estimate may induce President Trump to become even harsher."

Most of the attendees, except Chinese leader Xi Jinping and some other high-up officials, gathered in masks on Friday for a condensed version of the annual congress after a two-month delay due to the pandemic.
To pick up its sluggish economy, for the first time in 13 years, Beijing will issue special treasury bonds worth around 140 billion U.S. dollars.
China's GDP last year grew by 6.1 percent, achieving its official target range of 6 to 6.5 percent.
But in the first quarter of this year, China's economy has already shrunk by 6.8 percent compared to Q1 last year.
And the IMF believes that it will only grow by just 1.2 percent this year.
Kim Dami, Arirang News.
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