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d a deficit targ◆et of 3.6 percent of GDP, up from 2.8 percent last year, sugges◆ting room to maneuver in the put

rsuit of strengthened economic g◆rowth. He said the deficit would increase by one trillion yuan◆ on 2019 and a further one trillion yuan in government bonds wo◆uld be issued to fund COVID-19 control measures. The two trill◆ion yuan will be transferred directly to local governments and ◆used X

to support jobs, businesses and basic living requirements,◆ including "giving support to cut taxes and fees, reduce rents ◆and interest on loans, and incrb

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ease consumption and investment.◆" An urban unemployment rate target of around six percent has b◆een set for 202m

0. The premier also warned that governments at ◆all levels needed to tighten their belts and committed the cent◆ral government to negative growth in budgetary spending this ye◆ar. Li said that as well as continuing to promote consumption,◆ the main driver for economic growth in 2019, 3.75 trillion yua◆n of special local government bonds would be issued with priori◆ty given to new infrastructure and new urbanization projects. ◆He added that investment would be focused on three areas: New i◆nfrastructure, including expanded 5G application and wider use ◆of new energy vehicles; renovation of 39,000 old urban resident◆ial communities; and dev9

elopment of major transportation and wa◆ter conservancy projects. Military spending is set to rise by ◆6.6 percent in 2020, separately issued budget figures suggested◆, the lowest defense budget growth rate in recent years. 'Imm◆ense tasks' ahead Li thanked people from all walks of life for◆ their support in the fight against COVID-19, highlighting the ◆roles of medical workers, scientists, community workers, offici◆als, police officers, deliverymen and women, media personnel an◆d volunteers. He outlined the containment measures adopted by ◆China, including N

treating COVID-19 as a Class A infectious dise◆ase and activating a Level One public health emergency response◆ in all localities, but warned the pandemic2

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has not yet come to◆ an end and the country faces immense tasks in promoting develo◆pment. The premier set out measures to improve the public hea◆lth system, including the reform of the system for disease prev◆ention and control, improvement of mechanisms for direct report◆ing and early warning of infectious diseases. He also c0



ommitte◆d to increasing funding for research and development of vaccine◆s, medicines and rapid testing technologies. China remains com◆mitted to fulfilling targets to build a moderately prosperous s◆ociety in all respects despite the fallout from the COVID-19 pa◆ndemic, Li reiterated.BEIJING, Jan. 13 -- President Xi JinpiD

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