China sets 2018 GDP growth target at around 6.5 pct
March 05,2018 By:Xinhua
March 5,2018--Chinese Premier Li Keqiang delivers a government work report at the opening meeting of the first session of the 13th National People's Congress at the Great Hall of the People in Beijing, capital of China, March 5, 2018. (Xinhua/Ju Peng)
BEIJING, March 5,2018-- China has set its GDP growth target at around 6.5 percent for 2018, unchanged from that for 2017, according to a government work report released Monday.
Given China's economic fundamentals and capacity for job creation, GDP growth of around 6.5 percent will enable China to achieve relatively full employment, according to the report delivered by Premier Li Keqiang Monday morning at the first session of the 13th National People's Congress, China's top legislature.
China aims to maintain inflation level at around 3 percent and create over 11 million new urban jobs. The surveyed urban unemployment rate is projected to stay within 5.5 percent, the registered urban jobless rate within 4.5 percent, the report showed.
The above targets take into consideration the need to secure a decisive victory in building a moderately prosperous society in all respects, and are fitting given the fact that China's economy is transitioning from a phase of rapid growth to a stage of high-quality development, Li said.
The GDP growth target is the same as that of last year, but might deliver different growth as China makes it clear to prioritize growth quality over pace.
The projected growth rate reflects China's position of not over-emphasizing speed but stressing improvements in the quality and effect of development, according to another report from the country's top economic planner.
"We will strongly promote high-quality development," said Premier Li.