China cuts 2019 defense budget hike by 0

08 March, 2019, 10:28 | Author: Erin Carter
  • China's economy has been hit hard by the trade war

With this year's increase, China's defence spending moved closer to the Dollars 200 billion mark, making it the highest spender on defence after the United States.

Recent economic data point to the difficulties China faces, with growth in the last three months of 2018 clocking in at 6.4 per cent.

Li also made no mention of the "Made in China 2025" technology blueprint, under which China has been attempting to create global leaders in advanced technologies at the state's initiative.

He told the 3,000 delegates at the congress that China would deliver almost 2 trillion yuan ($298bn) of cuts in taxes and other company fees.

According to the plan, Chinese inflation will accelerate to about 3 percent this year from 2.1 percent in 2018.

Boasting the world's largest army, China's military spending is second only to the United States, which budgeted $716 billion for defence in 2019.

Also on Tuesday, China's state planner said it would continue to deal with debt risks in an orderly way, resolving issues with shadow banking and local government debt without destabilising economic growth.

In recent weeks, the United States and China appear to have moved closer to a trade deal that would roll back U.S. tariffs on at least US$200 billion worth of Chinese goods.

Li set this year's growth target at 6 to 6.5 percent.

Missing dentist's body found in suitcase
Dr Reddy told Narde she had "moved on" and meant to "start a new life" with her new boyfriend, according to a police source. According to the police, they spoke to Narde as part of the missing persons investigation before his death.

China's 2019 defense spending will rise 7.5 percent from 2018, according to a budget report issued at the opening of the country's annual meeting of parliament on Tuesday, a slower rate than past year but still outpacing the economic growth target.

In terms of monetary policy, Lee said the government will keep it neither too tight nor too loose, and will not resort to a flood of stimulus while growth in M2 money supply and total social financing this year will be in line with nominal GDP growth.

"We must be fully prepared for a tough struggle", he said.

Smaller firms can expect to have easier access to funds as the premier said that China aims to increase lending to them by large commercial banks by more than 30% this year.

China-U.S. economic and trade friction, in particular, "had an adverse effect on the production and business operations of some companies and on market expectations", said Li, who delivered a work report mapping out policy direction for 2019.

The Work Report is a fixture of the Two Sessions, which in most years is China's biggest political event. This year, Li also did not announce any targets for growth in retail sales or fixed asset investment. A year since removing any legal barrier to remaining China's leader for life, Xi Jinping appears firmly in charge, despite a slowing economy, an ongoing trade war with the us and rumbles of discontent over his concentration of power.

Li's comments come, somewhat counterintuitively, as Beijing and Washington look to be close to securing a deal on trade after weeks of negotiations between senior figures in both nations.

A deal to end the trade war with the USA is on the table but the final outcome remains uncertain.



Second person in history reportedly cured of HIV
Both required a bone marrow transplant , which allowed physicians to introduce HIV-resistant stem cells into their bodies. Brown, now 52, reportedly lives in Palm Springs, California and is still clear of HIV to this day.

Los Angeles Clippers vs. Los Angeles Lakers Prediction, Preview, and Odds
According to ESPN , the next week will be even harder for the team as young star Kyle Kuzma will be out with an ankle injury. Unfortunately the comparison between James and Kobe Bryant is returning to the forefront in Los Angeles.

Facebook Allows Two-Factor Authentication Phone Number Search
The good news is that while you can't opt out, you can control who can look up your profile using your phone number. Facebook came under heavy fire after admitting that they were using users phone number to directed targeted ads.

Leaving Neverland: Paris Jackson 'still believes dad Michael is innocent'
Two men, Wade Robson and James Safechuck, say Jackson sexually abused them when they were aged seven and 10. Tiny Record Shop in Toronto has taken a public stand, refusing to stock any of Jackson's records.

Canadian Treasury Board Secretary Jane Philpott Resigns Over Scandal
Philpott felt the need to resign as a result of our government's handling of this matter", he said in the release. Former attorney general and justice minister Jody Wilson-Raybould resigned suddenly from Cabinet in February .

US Lawmakers Announce Sweeping Document Requests in Trump Probe
So now they go and morph into, 'Let's inspect every deal he's ever done. "It's very clear that the president obstructed justice". Gergen noted that House committees "have a long history", but warned the Democrats must not "overplay their hands".

Samsung developing vertical and external folding phones
The unveiling of the Samsung Galaxy Fold ahead at the Unpacked event earlier this month disrupted the smartphone community. Since the Galaxy S10 5G won't be released for at least a few more months, we don't know how well its camera performs.

USA merges consulate with Jerusalem embassy, downgrading diplomatic relations with Palestinians
What are they saying? The Palestinian Authority has preemptively rejected the plan, accusing the US of bias toward Israel. A worker hangs a road sign directing to the USA embassy, in the area of the US consulate in Jerusalem , May 7, 2018.

Victor of record $1.5B lottery drawing comes forward
The ticket was purchased October 23, at the KC Mart in Simpsonsville, a town of about 22,000 people outside of Greenville. If it had gone unclaimed, the money would have gone back to the 44 states where the tickets were purchased.

Donald Trump Reacts to Democrats Targeting Family Business with Investigations
Nadler previewed the announcement on ABC's "This Week" on Sunday , contending it's "very clear" that Trump obstructed justice. He said there would be more requests , which might involve additional people.