Greater govt spending to improve infrastructure, ease financial risks

Increased government spending this year is expected to boost construction of infrastructure and ease financial risks, a priority measure the government will take to stabilize economic growth, according to analysts.

China will raise its fiscal deficit target to 2.76 trillion yuan ($411.8 billion), or 2.8 percent of GDP, this year from 2.6 percent in 2018, according to the annual Government Work Report released on Tuesday.

The report was delivered by Premier Li Keqiang at the opening of the second session of the 13th National People's Congress on Tuesday. The policies listed in the report will be reviewed and discussed by legislators and policy advisers during the session.