China parliament approves new five-year economic plan

China parliament approves new five-year economic plan

China parliament approves new five-year economic plan

Written by Staff Writer

16 Mar, 2016 | 11:06 am

China’s parliament has ended its annual session by approving a new five-year economic plan, as Premier Li Keqiang says the country will push ahead with economic reforms.

The plan aims to grow the world’s second-largest economy by around 6.5 to 7% a year by 2020.

Measures include cutting high debt, streamlining state-owned enterprises, and reforming financial markets.

China has been facing a period of slower growth and market volatility.

The plan, laid out by Communist Party leaders, received unanimous approval from the rubber-stamp National People’s Congress (NPC).


Are you interested in advertising on our website or video channel
Please contact us at [email protected]