21 August 2019

China could retain 7.5% growth target, report says

China is expected to set 7.5 percent economic growth target for this year as it opens an annual legislative session Wednesday, the Wall Street Journal reported. That will mark the same target as that set for last year, and far below the 9.9 percent annual growth average the country enjoyed over the past three decades, the report noted. But the slower growth now could fuel faster growth in the future, provided the transition isn’t too abrupt and China’s leaders use the breather to create high-quality jobs, carry out land and labor reforms and revamp fiscal policies, economists were quoted as saying.

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