Chinese leaders say 5.5% GDP growth target is guidance, not hard target – report
MACRO POLICY & REGULATION
Chinese leaders say 5.5% GDP growth target is guidance, not hard target – report
MACRO POLICY & REGULATION

Chinese leaders say 5.5% GDP growth target is guidance, not hard target – report

 

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Chinese leaders told the government that this year’s economic growth of about 5.5% is a guidance and not a hard target in a meeting last week, Bloomberg News reported on Tuesday citing people familiar with the matter.

At the meeting, the top leaders told officials from the ministerial and provincial-level that the target will not be used to evaluate their performance, neither will there be any penalty for failing to meet the target, the report said.

The leaders acknowledged that the chances of achieving the set goal are thin, the report added.

On July 28, the Chinese Politburo, after a high-level meeting, said that it would strive to achieve best possible results for economy, without mentioning the GDP target. The country will stick to “dynamic” zero-COVID policy and efforts to stabilise property markets, it had added then. Read more …