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China Seen Downplaying Growth Targets in 2021-2025: Yicai

CHINA PRESS

China is likely to de-emphasise the GPD growth rate while mapping out its 14th Five-year Plan and pursue the "dual circulation" model as it continues to open up the economy, Yicai reported. China will focus more on economic balance and high quality development rather than a specific GDP growth goal, the newspaper said citing Wang Tao, an economist from UBS Securities. China's future GDP increase should rely more on domestic demand and consumption potential, YiCai reported citing comments by CICC. The opening up of capital accounts and capital movement will stoke external demand, YiCai said.

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