(VOVworld) – China is facing numerous difficulties due to weak global economic recovery and other countries’ macro economic policies, Chinese Premier Li Keqiang said in report delivered at the opening meeting of the national legislature's annual session on Wednesday. According to the report, several domestic issues such as risks in the financial and banking sectors, difficulties in macro economic management and housing, job generation, healthcare services, and education, remain huge challenges for China while corruption continues to be reported in state agencies.

The second session opens at the Great Hall of People in Beijing, China Photo: www.news.cn

Li’s report stressed that China will intensify its open door policies, stimulate markets, and promote its inner strength. The report sets this year's economic growth target at 7.5 percent with an inflation rate of 3.5%, and aims to generate 10 million jobs in urban areas. Li’s proposals indicated that China plans to raise its defence budget 12.2% to 132 billion USD, continuing China’s 20 year trend of 2-digit increases in the defence budget.
3,000 deputies attended the opening meeting with top Party and state leaders including President Xi Jinping, Premier Li Keqiang, and chairman of the National Committee of the Chinese People's Political Consultative Conference Yu Zhengsheng.