The meaning of gross domestic product...>

CHINA PRESS: The meaning of gross domestic product has weakened for China, and

high-quality development will be a "hard requirement," the Economic Information

Daily, a newspaper of the official Xinhua News Agency, said in a commentary on

Thursday. If China follows the principles of insisting on stability while

seeking advancement, and keeping economic development in a reasonable range,

economic growth will be steady and resilient. The economy will not shrink too

fast or lose its balance, making for a higher-quality economy. China's monetary

policy will stay prudent and neutral. Quantitative easing policies and negative

interest rates around the world barely stimulated the real economy and instead

delayed economic restructuring. Three transformations are important for the

country: from "made in China" to "innovate in China"; from "China's speed" to

"China's quality"; and from "large manufacturing country" to "strong

manufacturing country." As China enters a new stage of pursuing high-quality

development, it will continue to lead global economic growth and could inspire

supply-side structural reforms around the world, the newspaper argued. (Economic

Information Daily)