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CHINA PRESS
MNI (Sydney)

China needs to return to setting a growth target to be line with its goal of doubling GDP by 2035, China News Service reported citing Yang Weimin, a deputy director of the Committee for Economic Affairs at the policy advisory body CPPCC. While the outbreak forced the government to suspend the practice last year, the pandemic is under control and growth of "higher quality and efficiency" must be maintained with a rate of at least 4.73%. This was necessary to build the country into a "Medium Developed Country" by 2035, Yang told China News. M2 can grow up to 10% y/y if the nominal GDP grows at 8%, Yang said.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com