National People's Congress rubber stamps new five-year plan

China’s rubber-stamp legislature approved the latest five-year plan for the country’s development on Wednesday, along with a new charity law and other measures, Agence France-Presse reported. As expected, the plan sets a goal of annual economic growth averaging at least 6.5% during the 2016-2020 period. That would entail bringing yearly gross domestic product from last year’s RMB67.7 trillion (US$10.4 trillion) to over RMB92.7 trillion in 2020, the feasibility of which economists have increasingly voiced skepticism over in recent months. The plan also calls for significant poverty reduction by 2020, with a new charity law intended to spur more giving in China, where charitable donations have lagged behind economic growth.