China to target around 6% growth in 2020, step up state spending: sources
14 Dec 2019
BEIJING (Reuters) - China plans to set a lower economic growth target of around 6% in 2020 from this year’s 6-6.5%, relying on increased state infrastructure spending to ward off a sharper slowdown, policy sources said.
Chinese leaders are trying to support growth to limit job losses that could affect social stability, but are facing pressure to tackle debt risks caused by pump-priming policies.
The proposed target, to be unveiled at China’s annual parliamentary session in early March 2020, was endorsed by top leaders at the annual closed-door Central Economic Work Conference this month, according to three sources with knowledge of the meeting’s outcome.
More Topics
The United States economy will look about the same in 2020 as it did in 2019, but will improve in 2021. International trade presents the greatest uncertainty to the economic outlook, and if that clears up, 2020 will be even better.
The demand side of the economy will be...
USDA announces $550 million to deploy high-speed broadband internet infrastructure in rural U.S.
Dec 12 2019STANTON, Iowa (KFOR) – More than half of a billion dollars in United States Department of Agriculture (USDA) Reconnect Pilot Program funding will be available in 2020 to develop high-speed broadband internet infrastructure in rural parts of the United States.
U.S. Secretary of Agriculture Sonny Perdue announced that a...
WASHINGTON (Reuters) - The U.S. Federal Reserve is expected to keep interest rates unchanged when it wraps up its final policy meeting of the year.
The U.S. central bank is currently in a holding pattern after cutting interest rates three times this year to boost the economy in the...