China will not set GDP target for 2020 as coronavirus batters economy

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Chinese Premier Li Keqiang.

Michele Tantussi | Getty Images

China made a rare decision not to set a target for its economic growth this year due to uncertainties about the impact of the coronavirus.

“I would like to point out that we have not set a specific target for economic growth this year,” Chinese Premier Li Keqiang said in an English-language text of the work report he was set to deliver on Friday. 

“This is because our country will face some factors that are difficult to predict in its development due to the great uncertainty regarding the covid 19 pandemic

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Global M&A dwindles as coronavirus batters world’s economies

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LONDON/NEW YORK (Reuters) – Global mergers and acquisitions activity plunged 28% in the first quarter to its lowest level since 2016 as the devastating economic effects of the coronavirus pandemic took hold in March, compounding a slow start to the year for dealmakers.

FILE PHOTO: Test tube with fake blood labelled with the coronavirus disease (COVID-19) is placed on dollar banknotes in this illustration taken March 27, 2020. REUTERS/Dado Ruvic/Illustration

Deal activity in the United States dropped by half to $252 billion in the first three months from a year ago, driving global volumes down to $698 billion from $964

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