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在线翻译:
szdaily -> Business
Growth target ‘to reflect new changes in economy’
    2017-December-5  08:53    Shenzhen Daily

THE country’s economic growth target for next year will reflect new changes in the Chinese economy as the government emphasizes higher-quality development, the State Council Information Office said yesterday.

The government will set its key targets for 2018 “after earnestly studying new performance, new situations and new problems,” the office, the government’s public relations arm, said in a statement.

“China’s economic and social development still faces many contradictions and challenges that need to be seriously resolved and dealt with,” the statement said.

Policy sources have said that the government is likely to maintain this year’s growth target of “around 6.5 percent” in 2018, even as they ratchet up efforts to control systemic risks from a rapid build-up of debt in the world’s second-largest economy.

The International Monetary Fund (IMF) and some economists have suggested that China do away with growth targets to reduce the country’s long reliance on debt-fuelled stimulus and encourage more productive investment.

Specific economic targets for 2018, which include GDP, inflation, the budget deficit and money supply, are likely to be set during an economic work meeting this month, but are not expected to be announced until the annual parliament meeting in March.

China will strive for higher-quality, more efficient and fair growth, the information office said, reiterating a pledge made by President Xi Jinping in October.

Buoyed by sustained State spending, a construction boom and resurgent exports, analysts forecast China’s economy should beat the official growth target for this year.

The economy grew 6.7 percent last year, a 26-year low, but has expanded 6.9 percent in the first three quarters of 2017.

Still, economists polled recently expect a slowdown next year as measures to curb rising housing prices and efforts to deal with debt risks gain more traction.(SD-Agencies)

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