China on Sunday kicked-off the plenary session of its parliament, the National People’s Congress (NPC), where it announced to increase it’s defence budget to 7.2 per cent in 2023, a slight uptick compared to 7.1 per cent last year. Also, it set a modest economic target of “around 5 per cent” for 2023 as it braces for several challenges, including weakening demand for Chinese exports, crackdown on the private sector.
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According to a report by the Ministry of Finance published on the opening day of the country’s rubber-stamp parliament, China will spend 1.55 trillion yuan ($225 billion) on defence this year.
Outgoing Premier Li Keqiang stressed on the need for economic stability and expanding consumption. He also said that China is looking to set a goal to create around 12 million urban jobs this year, up from last year’s target of at least 11 million.
The United Kingdom is all set to unveil a new law to crack down on migrants arriving in Britain in small boats from Europe across the English Channel. As per reports, the law will be unveiled on Tuesday.
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