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China signals slower growth is acceptable to tackle debt, smog

GDP will reach 80 trillion yuan ($12.2 trillion) by year end, Han Wenxiu, deputy head of the State Council research office, said in a recent article in the official Economic Daily

Bloomberg 

China can achieve a goal of doubling the size of its economy by 2020 even if annual expansion slows to 6.3 per cent, according to a senior Communist Party official, signaling a greater willingness to tackle debt and pollution at the expense of growth. In its blueprint for 2016 to 2020, China set a minimum annual growth target of 6.5 per cent for the five-year period to achieve the goal of doubling gross domestic product (GDP) from 2010 levels. But over the weekend, Yang Weimin, an official from the Communist Party committee overseeing economic policy, said annualised growth of 6.3 ...

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First Published: Tue, December 26 2017. 02:13 IST
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