China Sets Major Goals To End Decade, Scraps 2020 GDP Target

By William Bi

     BEIJING (MNI) - The Chinese government announced Thursday its three major

policy priorities to the end of the decade, suggesting it would be willing to

accept somewhat lower economic growth to achieve those goals. 

     China's three priorities for the next three years are preventing "major

risks," targeting poverty reduction and managing pollution, so that the country

can meet its target of becoming a "moderately prosperous society" by 2020,

according to a government statement given to reporters before a press briefing

in Beijing Thursday following the 19th Communist Party Congress. 

     China will also scrap its previous goal of "doubling its GDP" by 2020 from

2010, according to the statement. 

     China will instead pursue growth through quality, efficiency and the

evolution of growth drivers for the economy, according to the statement.

     China will also accelerate by 15 years to 2035 its goal of becoming a

"modern socialist country." China is "absolutely certain" it will reach this

goal given its large potential, according to the statement. 

--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com

[TOPICS: M$A$$$,M$Q$$$,MT$$$$,MGQ$$$]