BEIJING (AP) — China’s top economic official on Friday promised higher spending to revive its coronavirus-battered economy and curb surging job losses and said Beijing would set no growth target in order to focus on fighting the disease.
Premier Li Keqiang, in an annual report to China’s ceremonial legislature, warned that the battle against the virus “has not yet come to an end.” He called on the country to “redouble our efforts” to revive slumping economic growth.
Li said the government’s budget deficit will swell by 1 trillion yuan ($140 billion) to help meet targets including creating 9 million new urban jobs. That is in line with expectations of higher spending but only a fraction of the $1 trillion-plus stimulus packages launched or discussed by the United States, Japan and Europe.
Li said the ruling Communist Party was not announcing a growth target, a closely watched feature of his annual report, due to the “great uncertainty” of the epidemic.
China, where the pandemic began in December, was the first economy to reopen but is struggling to revive activity. Forecasters say job losses this year could exceed 20 million.
12 Marijuana Stocks to Buy Now
There are now more than 50 publicly-traded companies operating in the cannabis industry. Most of these companies aren’t directly growing and selling marijuana themselves, but they do stand to benefit greatly as more states legalize the sale and possession of marijuana. Some of these marijuana stocks are media companies. Others are privately studying the medical uses of marijuana. Yet others are providing tools and software for marijuana growers. As more cannabis companies file IPOs and enter the stock market, it will become increasingly difficult for investors to identify which marijuana stocks will truly benefit from the cannabis boom.
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This slide show lists the 12 pot stocks that MarketBeat subscribers are have added to their watchlists and are actively monitoring.
View the “12 Marijuana Stocks to Buy Now”.
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