Chinese government may be force to cut down it 2020 target because of coronavirus

China may cut its economic growth expectations for 2020 as the deadly coronavirus outbreak intensifies and continues to take a toll on the global economy

  1. Chinese officials are weighing options to mitigate the fallout from the fast-spreading coronavirus on the country’s economy, including lowering its 2020 annual economic growth target
  2. China may ultimately lower its GDP estimates, which had initially been targeting growth of about 6% this year after China’s economy grew just 6.1% in 2019—its lowest rate in almost three decades.
  3. The country’s growth target is usually first endorsed by top party officials then announced at an annual legislative gathering which is scheduled for March 5
  4. impact on China’s already slowing economy, which has had to cope with weak domestic demand, rising debt and fallout from the trade war with the U.S.
  5. Among other measures to mitigate the economic damage of the coronavirus, Chinese officials are also considering selling more special government bonds and increasing the planned cap on the budget deficit-to-GDP ratio
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