China omitted a 2020 economic growth target for the first time and pledged government support for the economy in Premier Li Keqiang’s work report on Friday, launching the country’s annual parliament meeting.
It is the first time that China has not set a target for gross domestic product (GDP) since the government began publishing such goals in 1990.
The world’s second-biggest economy contracted 6.8% in the first quarter from a year earlier, shrinking for the first time in decades, as the outbreak of the new coronavirus, which started in the central Chinese city of Wuhan, paralysed production and hit spending.
Ahead of the National People’s Congress, the week-long meeting of the largely rubber-stamp parliament, China’s top leaders have