24 May 2019

Provinces push to cut 2015 GDP targets, paper says

Legislative bodies in several provinces, including Shanxi and Shaanxi, have proposed lowering their economic growth targets for 2015, the 21st Century Business Herald reported Wednesday, citing people with knowledge of the matter. Hainan has already approved a three percentage point cut to its 2015 gross domestic product goal to 10 percent, the same reduction put forward by legislators in Shanxi. Zhang Jiandong, a senior official from Beijing’s development and reform commission, proposed in September to cut the capital’s GDP target to 7.5 percent from 8 percent, the report said. No reasons were given for the changes but the central government is trying to engineer a shift to a more socially and environmentally sustainable economy, and has reduced the weighting of GDP growth in its performance reviews of local governments.

– Contact HKEJ at [email protected]


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