|Li Keqiang, China's premier, delivers the government's work report during the opening meeting of the second session of the 12th National People's Congress (NPC), China's Communist Party selected parliament, at the Great Hall of the People in Beijing, capital of China, March 05, 2014. Photo: Xinhua
China has kept its economic growth target
unchanged at 7.5% in 2014 according to a government work report delivered by
Premier Li Keqiang at the parliament' s annual session Wednesday. The military
budget is set to rise by 12.2% as Japan is warned again about uninhabited
islands in the East China Sea.
"On the basis of careful comparison and
repeatedly weighing various factors as well as considering what is needed and
what is possible, we set a growth target of around 7.5%," the report said, four
months after a key meeting outlined a wide-ranging reform package last November.
This is the third consecutive year that the
government put the goal at 7.5% as it looks to steer the economy onto a more
China said it
will make upgrading exports and promoting balanced trade growth as a strategic
priority in 2014, with foreign trade expected to rise by 7.5%.
Premier Li Keqiang today warned Japan that China
would not allow any country to “reverse the course of history,” as the claim
over the disputed islands known as Senkaku to the Japanese and Diaoyu to
the Chinese, continues to bubble.
“We will safeguard the victory of World War II
and the postwar international order, and will not allow anyone to reverse the
course of history,” Li said today.
China's finance ministry said military spending
this year is budgeted at ¥808.23bn ($131.58bn), a 12.2% rise from last year's
spending of ¥720.2bn. That in turn was an increase of 10.7% from 2012.
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