23 August 2019

NDRC researcher tips 7% GDP growth in 2014, paper says

The central government needs to drive investment in urbanization, with the prospect of GDP growth reaching 7 percent rather than the 7.5 percent target, the China Securities Journal reported Monday, citing a researcher from the National Development and Reform Commission. Ongoing serious overcapacity should be tackled by expanding domestic demand, and to do so the urban population should increase to at least 400 million from the present 100 million to expand consumption, Wang Jiang, secretary general of the commission’s China Society of Macroeconomics, was quoted as saying. Wang also warned that an international financial crisis or a domestic crisis resulting from overcapacity is likely next year, the report said.

– Contact HKEJ at [email protected]



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