BEIJING (AP) — China announced a robust annual economic growth target and a 7.5 percent rise in military spending Tuesday as it convened an annual legislative session overshadowed by a tariff war with Washington.
Seeking to defuse U.S. and European complaints the Chinese system is rigged against foreign companies, Premier Li Keqiang promised in a speech to the National People’s Congress they will be “treated as equals” with their Chinese competitors.
Li, the country’s top economic official, set this year’s growth target at 6 to 6.5 percent, reflecting determination to shore up a cooling, state-dominated economy and prevent politically dangerous job losses. Slightly below last year’s 6.6 percent growth, a three-decade low, it would be among the world’s strongest if achieved.
The premier promised to “promote China-U.S. trade negotiations,” but gave no details of talks aimed at ending the fight with President Donald Trump over Beijing’s technology ambitions and complaints it steals or pressures companies to hand over technology.
Li, No. 2 in the ruling Communist Party behind President Xi Jinping, pledged higher spending on development of technologies including artificial intelligence, electric cars, biotechnology and new materials that China’s leaders see as a path to prosperity and global influence. He also promised more money for education, social programs and public works construction.
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