China will not set a 2020 economic growth target for the first time since 1990 amid great uncertainty due to the COVID-10 pandemic, Premier Li Keqiang said in a speech at the country’s annual parliament meeting. Meanwhile, the target for consumer price index growth is around 3.5%. The leader added that fiscal policy in the country will be more proactive and monetary policy will be more flexible this year, adding that 2020 budget deficit of at least 3.6% of GDP, above last year’s 2.8%, and quota on local-government special bond issuance at CNY 3.75 trillion. Beijing will also issue CNY 1 trillion in special treasury bonds for the first time this year, while expecting higher M2 growth and total social financing.