BEIJING, Dec. 23 -- China needs annualized growth of 6.3 percent in 2018-2020 to realize the target of doubling the 2010 GDP by 2020, an official said Saturday.
"Judging from current economic performance, there will not be any huge barrier in meeting the goal," Yang Weimin, deputy head of the office of the central leading group on financial and economic affairs, said at an economics forum.
Five years ago, China decided to double 2010 GDP and per-capita income by 2020 as an important component of becoming a moderately prosperous society in all respects.
GDP expanded 6.9 percent year on year in the first three quarters of 2017, above the government's target of around 6.5 percent for the whole year.
In a report delivered at the 19th National Congress of the Communist Party of China, no more GDP-doubling target was mentioned, showing China's emphasis on development quality rather than fast expansion.
"High-quality development is the fundamental requirement for determining the development path, making economic policies and conducting macroeconomic regulation," said a statement following the central economic work conference on Wednesday.
"The theme of economic development will become high-quality development, instead of rapid growth," Yang said.
The potential growth rate has changed due to upgraded consumption, financial risk and environmental constraints, he added.
"If China ignores these realities and continues to be obsessed with fast growth rates, the concomitant risks will outweigh the increase in GDP," Yang said.
China must build and improve mechanisms for pushing forward high-quality development, including indicators, policies, standards, statistical and performance assessment systems, according to the Wednesday statement.
Realizing high-quality development is a must for sustaining healthy economic development and adapting to the country's new principal contradiction between unbalanced and inadequate development and the people's ever-growing needs for a better life, it said.
人造肉风潮持续大热,Beyond Meat赚翻了
国内英语资讯:Central govt spokesperson strongly condemns assaults on innocent civilian, HKSAR official
薄熙来被“公诉”
国内英语资讯:Senior official urges to study, implement spirit of key CPC meeting
“三公经费”预算
国际英语资讯:Bolivia withdraws from ALBA, recalls most of its ambassadors
鼓励“生态安葬”
国际英语资讯:Conference on EU energy strategy calls for investments in clean, sustainable energy
高铁票价“打折”
高考后忙“整容”
善意会在最意想不到的地方出现
邹市明进军“职业拳坛”
不爱裙装爱裤装 《冰雪奇缘2》艾莎新造型“顺应时代潮流”
小米推出自己的Apple Watch,据说和苹果差不多
说说“第三顺位继承人”
国际英语资讯:Former U.S. ambassador to Ukraine testifies over House impeachment inquiry
履行“孝道”入法
印度首都德里雾霾爆表,空气污染指数达到999
国际英语资讯:UN chief sends condolences for Gaza family killed in Israeli missile attack
荷兰决定将车辆限速降到欧洲最低