China sets this years economic growth target at around 5%

News Summary

  • A central bank official said Friday real estate activity is recovering and lending for construction and home purchases is rising.A recovery based on consumer spending is likely to be more gradual than one driven by government stimulus or a boom in real estate investment.
  • The Stockholm International Peace Research Institute says the two countries together account for half of global military outlays.Li’s report called for boosting consumer spending by increasing household incomes but gave no details in his unusually brief, 53-minute speech.
  • Beijing is pressing them to pay for social welfare and official initiatives to develop processor chips and other technology.
  • That has prompted warnings economic growth will suffer.Li’s report Sunday reinforced the importance of state industry.
  • He called for “peaceful reunification” between China and Taiwan, which split in 1949 after a civil war, but announced no initiatives.Taiwan never has been part of the People’s Republic of China, but Beijing says it is obligated to unite with the mainland, by force if necessary.
  • His company announced last week Bao was “cooperating in an investigation” but gave no details.
BEIJING (AP) Chinas government announced plans to promote a consumerled revival of the struggling economy as its legislature opened a session Sunday that will tighten President Xi Jinpings control o [+6885 chars]