Published: Fri, March 09, 2018
World | By Camille Rivera

China increases military budget and pegs GDP growth at 6.5%

China increases military budget and pegs GDP growth at 6.5%

That follows complaints Beijing did too little while Xi focused on amassing power since becoming Communist Party leader in 2012.

Xi said that by representing Inner Mongolia as a deputy from the region, he demonstrated the great attention that the CPC Central Committee pays to ethnic minority and border region affairs and the CPC Central Committee's firm resolve to reduce poverty. China has seen the United States as its biggest potential security threat, alarming Beijing with freedom of navigation patrols in the South China Sea the United States calling China a strategic competitor.

But observers were not convinced, the Post report said. "It remains to be seen how policy priority would change for the next five years".

"And local government officials should no longer expect that overperforming on growth targets will be the best or only way to advance their careers". Real growth came in at 6.9 percent but that was supported by a boom in bank lending and real estate sales that regulators are trying to rein in amid concern about debt that has soared to 270 percent of economic output.

The country will fully open up its general manufacturing sector and expand foreign investment access to sectors like financial services, telecommunications, medical services, education, elderly care, and new-energy vehicles. For years, Beijing has pushed to reign in excessive industrial production and air pollution.

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Sunday: Expect a mostly sunny morning followed by a partly cloudy afternoon with no rain and temperatures in the low to mid 70s. Scattered showers spread over the Tennessee Valley Monday morning with a weak warm front that lifted in from the south.

Beijing has so far given a cautious response to Trump's announcement.

For more, we recommend reading Trivium or the New York Times (paywall), or the full Work Report, Budget, and plan of the NDRC (National Development and Reform Commission), courtesy of the Wall Street Journal.

Li also announced that China will cut capacity in steel and coal by 30 million metric tons and 150 million metric tons respectively this year. The combined deficit of general public budget and overnment-managed fund budget could rise to 4.1% of GDP this year from 4% last year, Liu wrote.

Two months ago, Mr. Trump said that the USA was thinking of imposing a hefty fine on China for the reported thievery of intellectual property. Authorities announced its founder and chairman would be prosecuted on charges of improper fundraising.

Growth is expected to cool this year as the Chinese government ramps up efforts to cut risk in its financial system and close down inefficient, polluting factories. But China kept its 2018 economic growth target at around 6.5 per cent, said Li, the same as in 2017, despite exceeding that year's target.

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In Premier Li Keqiang's government work report, the economy came first.

Chinese leaders set a robust annual economic growth target and ambitious high-tech development goals Monday at a legislative session overshadowed by proposed constitutional changes to allow President Xi Jinping to stay in power indefinitely.

He also applauded when the Premier vowed to build China into a leader in manufacturing by striving to meet the highest global standards in all products, encourage the spirit of workmanship, and ignite a revolution in the quality of Chinese-made goods.

"We have undertaken major missions involving the protection of maritime rights, countering terrorism and maintaining stability, disaster rescue and relief, worldwide peacekeeping, escort services in the Gulf of Aden, and humanitarian rescue", Li said of the Chinese military's recent activities.

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Dental supplies maker Patterson Companies plunged 22 percent after reporting weak earnings for the latest quarter. Shares of the company, which sells dental and animal health products, dropped $7.47, or 23.7 percent, to $24.11.

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