Lending the same amount this year would bring the outstanding balance to about 192 trillion yuan
Pandemic reveals flaws at the heart of infra lending plan
The spending figure, set at $208.47 billion in the national budget released on Friday, is closely watched as a barometer of how aggressively the country will beef up its military
GDP to be flat in FY21, FDI inflow up 13 per cent between April to August 2020, compared to 2019
According to Bloomberg data, China's m-cap stood at just $407 billion in May 2006 - 45 per cent below India's m-cap of $745 billion
China's economy grew 3.2% in the second quarter, following a slump of 6.8% in the first, according to its National Bureau of Statistics
China, where the coronavirus pandemic began in December, was the first economy to shut down
China has decided not to set goals on the GDP growth in 2020 amid the Covid-19 pandemic, Government Work Report as stated by The Global Times
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The world's second-largest economy shrank 6.8% from a year ago in the three months ending in March after factories, shops and travel were closed to contain the infection, official data showed.
The country will still be the fastest growing large economy this financial year, but it will lose that tag next year to China, says the agency.
Goldman said it did not expect GDP to return to the pre-virus trend until the third quarter.
The People's Bank of China is closely watching the impact of the outbreak on the economy, and is preparing policy reserves to offset the pressure, Vice Governor Pan Gongsheng said
The per capita Gross Domestic Product in 2019 reached 10,276 US dollars at the average exchange rate, exceeding the 10,000-dollar mark
China's manufacturing is improving and it recently signed a trade agreement with the US, but analysts are not sure if the gains can be sustained.
Beijing has stepped up support for the economy with major tax and rate cuts and has scrapped foreign investment restrictions in its stock market
ADB also slashed its growth estimate for India to 6.5 per cent from 7 per cent
China's trade surplus also dropped sharply in August to $34.83 billion
The trade war with the US has hit China's economy, compounding a global slowdown
Government officials have said China is expected to have hit its growth target of around 6.5% last year