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Two reasons for 2017 GDP growth target of around 6.5%


03-06-2017 14:29 BJT

Full coverage: 2017 NPC & CPPCC Sessions

(Source: CGTN)

As China's 'two sessions' continues, the country's National Development and Reform Commission, or NDRC, has spoken on China's economic and social development, and macroeconomic management.

NDRC chairman He Lifeng said in a press conference that China's economy maintained steady growth in 2016, and is looking to maintain medium-to-high speed growth. He added that the "one belt and one road" initiative has make great progress in the past year, and explained that China's target of 6.5 percent GDP growth this year was brought about for two main reasons.

"Ministries and provinces are paying great attention to steady development, and measures have been taken accordingly. So we are shifting our focus from high-speed growth to medium-speed over a five-year period. As for the target of 6.5 percent GDP growth this year, on the one hand, it is necessary for us to maintain this growth speed because our population is approaching 1.4 billion, and employment is a huge issue. On the other hand, there are still points of weakness that need to be strengthened to ensure that China achieves its goal of becoming a "moderately prosperous society" by 2020, so we must maintain a medium-to-high growth rate," He said.

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