The gross domestic product (GDP) target and military spending are among the most closely watched figures during the opening day of proceedings. Earlier this year, it said economic growth had reached 5.2% in 2023. Some international analysts are also skeptical about the reliability of China’s growth figures, as the government is widely seen as having limited data transparency. Beijing hasn’t announced double digit growth in military spending since 2015, when there was a push to revamp the armed forces. The expansion of China’s defense budget has outpaced its target economic growth for years, with this year being no exception.

Source: CNN March 05, 2024 03:26 UTC