China drops annual economic growth target for first time

China will not set an economic growth goal for this year as it deals with the fallout from the coronavirus pandemic.

It is the first time Beijing has not had a gross domestic product target since 1990 when records began.

The announcement was made by Mremier Li Keqiang at the start of the country’s annual parliament meeting.

Premier Li said the country is expected to face some factors that are difficult to predict in its development due to the great uncertainty regarding the COVID-19 pandemic.

The world’s second largest economy shrank by 6.8 percent in the first quarter as lockdowns paralysed businesses.