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China To Stick With 7.5 Percent Economic Growth Target

Posted by admin | Opinion | Friday 7 December 2012 5:50 am
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The leaders of China are likely to stick with the 2012 economic growth target of 7.5 percent when they chart a course for 2013 to allow higher levels of fixed-asset investment to offset weak export demand.

China To Stick With 7.5 Percent Economic Growth Target

China’s new leader Xi Jinping and other policymakers would unveil aggressive stimulus next year when they assume office for reviving an economy seen growing in 2012 at its weakest pace since 1999.

“The 7.5 percent economic growth target is achievable, but it cannot be achieved without any difficulties,” said a source at a top think-tank.

Beijing had maintained a target for economic growth of 8 percent for eight years before cutting it in 2012 to 7.5 percent.

The government, however, may not announce the targets before the annual parliament meeting in early March 2013.

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