MNI POLICY: China Should Set 2020 Growth Around 6%: Advisor

By Archie Zhang

     BEIJING (MNI) - China should fix the economic growth target around 6% to

ensure employment, corporate profits and fiscal revenue in 2020, said Yao

Jingyuan, a councillor with the State Council and former head of the national

statistics agency. 

     Here are the major points Yao made on Saturday at the 16th China Animal

Feed Technology and Economic Forum in Beijing: 

     - The stability of the economy is the premise and foundation, without which

China can't make progress. A growth rate of 6% can create as many as 1.2 million

jobs, meeting the government's priority goal of having stable employment.

     - Local governments' restrictions on car purchases should be abolished.

Instead, they should build infrastructure to boost auto consumption.

     - The central government should pay interests for company loans used to

upgrade machinery. The policy can restructure the industrial sector and

stimulate banks to loan the real economy.

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

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