China has set an economic growth target of around 5% for this year.
According to the news agency, the economic development target was announced by the Chinese Prime Minister on the occasion of the annual National People’s Congress.
The economic growth target of around 5 percent is the lowest target in the last decades.
China has announced a 7.2% increase in its defense budget, which is $225 billion.
China plans to create around 12 million new jobs this year to push the urban unemployment rate down to 5.5 percent.
