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📝 China in Figures (2021-2025) #China strives to balance fiscal sustainability and longer-term national development against near-term economic support in this year’s National People’s Congress #NPC, which also marks the first year of the 14th Five-Year Plan and transition towards the pursuit of the second centenary goal. In his government work report speech, Premier Li announced: 📌 A relatively modest #GDP target of at least 6% for 2021 📌 #Fiscal #deficit to be reduced slightly to 3.2% of GDP, while quota for local government special bonds dropped modestly to 3.65 trillion yuan 📌 Fiscal spending is prioritized for ensuring job stability and strengthening science and technology 📌 An addition of at least 11 million new urban jobs 📌 Basic research spending to increase by 10.6% while R&D expenditure is set to grow by 7% annually for the 2021-2025 period 🔗 For the latest economic information about #China, follow our Asia-Pacific economist Bernard Aw, or check out our website: https://lnkd.in/g9Q7JaT #CofaceAsiaPacific #global #Asia #AsiaPacific #APAC #economy #business #globaltrade #B2B #export #traderisk #BusinessClimate #CreditManagement #insolvency #CreditInsurance #BusinessInformation

China Economy | Coface Asia Pacific

China Economy | Coface Asia Pacific

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