Premier Li Keqiang announced an annual national growth goal of 6.5-7% for 2016 on Saturday at the National People’s Congress in Beijing, the first range since 1996, Bloomberg reported. The government has also dropped its annual trade target, while the Ministry of Finance said China’s fiscal deficit was slated to increase to 3% of gross domestic product in 2016, up from 2.3% in 2015, while money supply will rise by 13%, up from a 12% goal last year. Li’s work report was released at the same time as the 2016 budget, the 2016-2020 Five-Year Plan and a new report from the National Development and Reform Commission.
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