What you should know from the opening of China’s legislature

By HUIZHONG WU
Associated Press

BEIJING (AP) — China’s Premier Li Qiang promoted an image of confidence as he announced modest economic growth goals for the country at one of its most important political gatherings. Li announced that the GDP growth target was 5% this year — a modest target that is still going to be difficult. China is grappling with an economic slowdown and a real estate market in crisis after a crackdown on excess borrowing led to a liquidity crisis among developers. Li’s report had stronger language on self-ruled Taiwan and a similar increase in defense spending as last year. It also indicated the central government may consider reforming the hukou system through which China allocates social benefits.