Experts: GDP growth target reasonable
By Song Jingli and He Yini (chinadaily.com.cn) Updated: 2014-03-05 10:55
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Growth target shows that the Chinese government wants to focus on stable economic growth amid structural transformation. It is seeking a balance between structural reforms, risk control, and economic growth. Stable growth will help underpin the country’s overall economic reforms that will in turn boost the economy in a longer term. That’s the most important thing. Meanwhile, a stable economy could also help resolve problems and risks that popped up during the economic expansion in the past decades. Lu Feng, a professor at the National School of Development, Peking University |
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Target growth rate of 7.5 percent is both necessary and feasible. China could find new growth engines as it restructures its economy. With the government backing the health industry, both the state capital and private capital will start flowing to this sector and this will finally bring better medical facilities, such as preventive and elderly care. Si Fuchun, a CPPCC member and a professor at the Henan University of Traditional Chinese Medicine |
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Target growth of 7.5 percent shows that the Chinese government's macro economic growth is becoming more scientific as it takes all factors at home and abroad into consideration.
Outside unfavorable situations, such as Ukraine crisis and Syrian unrest, could bring uncertainties to the Chinese economy, but the Chinese economic power has become much stronger than before.
China's foreign trade has gone through the toughest time and shows clear signs of picking up this year.
European Union is recovering and China has been making efforts to sign free trade agreements with more and more countries and establishing more free trade zones within the country.
All these factors indicate good foreign trade momentum. The government may lower tariff rates to boost equipment imports, which will help balance China's import and export.
The actual economic growth rate could be above the target level this year.
Zheng Zhihai, former vice chairman of China Society for WTO Studies, a think tank of the Ministry of Commerce.
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This is within our expectations. Premier Li Keqiang's "reasonable range" actually offers certain expectations that could avoid market panic. Li's innovation of macro-economic control also lies in tightening economic policy, streamlining administration, and decentralization. Lu Zhengwei, chief economist of Industrial Bank Co Ltd |
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