# China set an ambitious annual growth target of around five-percent, vowing to make domestic demand its main economic driver as an escalating trade war with the United States hit exports. Beijing also announced a rare hike in fiscal funding, allowing its budget deficit to reach four-percent this year as it battles stuttering employment for young people, stubbornly low consumer demand and a persistent property sector debt crisis. Some 12-million new jobs will be created under the plans as Beijing pushes for two-percent inflation this year.
China sets growth target of 5% this year