China sets 5% growth goal, toughens talk on Taiwan | Radio Free Asia (RFA)

China has set its growth Target for the year at 5% and warned hitting it won't be easy the goal was revealed as the annual meeting of the country's Parliament got underway Premier Lee Chang spoke in the cavernous Great Hall of the people on beijing's Tiana and man Square these expected targets are proposed taking into account both domestic and international situations and various factors achieving these Targets this year is not an easy task it requires focused policies doubled efforts and work and concerted efforts from all sides the target is similar to last year's but faces even stronger headwinds China started the year with a stock market route and deepening deflation a property Market crisis only seems to get worse with giant developer everr told to liquidate and a sputtering economic recovery has laid bare deep-seated structural problems including feeble household consumption on Monday Lee vowed to transform the country's growth model he said Beijing would curb industrial overcapacity tackle the property crisis and address risks over massive Municipal debts it will also pour money into Tech Innovation and advanced manufacturing but investors were disappointed by the lack of detail on what all that might mean in practice Hong Kong's Benchmark hangsang index sled over 2% following Lee's Outlook analysts still bet the country will have to lower its growth Targets in the future pointing to pressures including China's falling population also Monday Lee flagged another rise in defense spending and toughened rhetoric toward Taiwan his report to Parliament dropped all mention of peaceful reunification with the island which Beijing views as a breakaway Province instead it promised to resolutely oppose any move towards Taiwan Independence