China to Focus on Reform, Foundation Building in 2021: Times

China is likely to de-emphasize quantitative growth targets and instead focus on major reform measures and nurturing new growth drivers, the Securities Times said in a preview of the National People's Congress (NPC) beginning next week. Citing Yang Weimin, the vice chairman of the Economics Committee of the Chinese People's Political Consultative Conference and former deputy head of the Central Economic Work Group, the Times report said that most regional governments have defined this year's growth targets more broadly, in another sign that the Government Work Paper will downplay quantities given last year's pandemic-hit comparison base. The NPC next week will seek to pursue new growth drivers, and the government will support new energy and environmental protection industries, the report said.