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arget of around six percent has been set ??for 2020. The premier also warned that governments a??t all levels needed to tighten their belts and commit??ted the central government to negative growth in budg??etary spending this year. Li said that as well as co??ntinuing to promote consumption, the main driver for ??economic growth in 2019, 3.75 trillion yuan of specia??l local government bonds would be issued with priorit??y given to new infrastructure and new urbanization pr??ojects. He added that investment would be focused on?? three areas: New infrastructure, including expanded ??5G application and wider use of new energy vehicles; ??renovation of 39,000 old urban residenc

8 percent last year??, suggesting room tc o maneuver in the pursuit of stren??gthex ned economic growth. He said the deficitS would i??ncrease by one trillion yuan o6 n 2019 and a further on??e trillion yuan5 in government bonds would be issued t??o
    o fund COVID-19 c5
    ontrol measures. TheN
    two trillion y??uan will be transferredw directly to local governments?? and used to support jobs, businesses and basic livin??g requireI ments, including "giving support to cut 1 taxe??s and fees, reduce rents and inter2 est on loans, and i??ncrease consumption and invo estment." An urban unemplo??yment rate tf