China has set an economic growth target of around 5 percent for this year.
According to the foreign news agency, China’s 5% economic growth target is the lowest target in the past decades.
The Chinese Premier announced the economic development goals in his address to the annual National People’s Congress.
According to media reports, China plans to create ‘about 12 million new jobs’ this year to bring down the urban unemployment rate to 5.5 percent.
China has announced a 7.2 percent increase in its defense budget to $225 billion.