China Plans to Target Around 6% Growth in 2020, Reuters Reports
To cushion a sharper slowdown, the state also plans to spend more on infrastructure.
(Bloomberg) -- China plans to target economic growth of around 6% in 2020, at the low end of this year’s range of 6% to 6.5%, Reuters reported, citing policy sources.
To cushion a sharper slowdown, the state also plans to spend more on infrastructure by allowing local governments to issue more special bonds next year, Reuters said. The proposed target to be unveiled in March at the country’s legislative session was endorsed by top leaders at the annual closed-door Central Economic Work Conference this month. The 6% target is in line with economists’ estimates.
State media reported earlier that the government would maintain economic growth next year within a “reasonable range.” While Beijing has unveiled a raft of pro-growth measures this year, leaders have ruled out aggressive stimulus for fear of pushing up debt levels.
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Ministry Official Sees China 2019 Growth to Slow to 6.1%-6.2%
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To contact the editors responsible for this story: Young-Sam Cho at ycho2@bloomberg.net, Sara Marley, James Amott
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