Path 27

The Latest: China promises all companies treated as equals

Path 27

BEIJING (AP) — The Latest on the annual meeting of China’s Congress (all times local):

9:30 a.m.

China’s top economic official is promising all companies are to be ‘treated as equals’ in a bid to defuse U.S. and European trade complaints.

Premier Li Keqiang made the pledge in a speech Tuesday at the opening of China’s national legislative session.

Li also said this year’s growth target was set at 6 to 6.5 percent. That is off slightly from last year’s 6.6 percent growth, a three-decade low, but would be among the world’s strongest if achieved.

Trending:
Maskless GOP Rep Tells Pelosi to 'Come and Get Me' as Capitol Police Are Ordered to Arrest Those Who Don't Comply with Mandate

The announcement reflects official determination to shore up slowing economic activity in the face of U.S. tariff hikes and cooling global demand.

___

9 a.m.

China’s government has trimmed this year’s economic growth target to a relatively robust 6 to 6.5 percent amid a tariff battle with Washington and a slowdown in global growth.

The growth target announced Tuesday at the opening of the ceremonial national legislature is down slightly from 2018’s three-decade low growth of 6.6 percent. But it would be among the world’s strongest expansions if achieved.

The announcement comes amid a tariff battle with Washington and slowing global demand for Chinese exports.

The finance ministry also said the country’s defense budget this year will rise 7.5 percent.

Chinese authorities are expected to use the congress to highlight measures intended to support economic growth. Legislators also are due to endorse a change in rules on technology in response to U.S. and European pressure.

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

Truth and Accuracy

Submit a Correction →



loading

We are committed to truth and accuracy in all of our journalism. Read our editorial standards.

Tags:
Path 27
The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands.
The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.
Location
New York City




loading

Conversation