Tags:
Journalism of Courage
China will likely stick with this years growth target of 7.5 per cent for 2014 as top leaders balance the need to keep the economy on an even keel while pushing through necessary structural reforms,sources at top government thinktanks said.
Growth will be supported by a steady recovery in Chinas exports next year thanks to stronger demand from developed economies,the commerce ministrys think tank said. The 2014 growth target was endorsed at the annual Central Economic Work Conference earlier this month,when top leaders pledged to maintain policy stability and reasonable economic growth at the meeting.
Top leaders believe that maintaining the 7.5 per cent target will help keep growth humming to create more jobs,while providing wiggle room to deepen reforms,government economists involved in the discussions about the plans said. Two camps who proposed growth target 7 per cent or 7.5 per cent made their points. But the government favors 7.5 per cent, said an economist at the State Information Centre,who requested anonymity due to the sensitivity of the issue.
Key economic targets for 2014 will be announced by the government during the annual parliament meeting in March.
China is widely seen growing around 7.6-7.7 per cent in 2013,just ahead of the governments 7.5 per cent growth target,but still near the weakest pace since the Asian 1997-98 financial crisis.
Premier Li Keqiang said economic growth of 7.2 per cent was needed to keep a lid on unemployment.
