China's NDRC: Focus on annual GDP targets gives greater policy flexibility

Speaking at a press conference on the sidelines of the annual parliament meeting, Hu Zucai, Vice Director of China’s National Development and Reform Commission (NDRC), said that Beijing refrained from setting an economic growth target in its most recent five-year plan, as it allows the policymakers greater flexibility.

Key quotes

“China will set annual growth goals throughout the five-year period contingent on the circumstances, as predicting growth for the year period would be easier.”

"By not setting a specific and quantitative (five-year) growth target, we will be more proactive, active and at ease in coping with all sorts of risks, which is conducive to boost the flexibility of our development."

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