China
China aims to expand the GDP by more than 6 percent in 2021
  ·  2021-03-16  ·   Source: NO.11 MARCH 18, 2021

As the only major economy to grow in 2020 after a hard-won rebound from a pandemic-induced worldwide slump last year, China has set the growth target for 2021, aiming to expand the GDP by more than 6 percent.

It is not unreasonably high, underlining a prudent and practical approach. The economy has entered a period where the focus is on high quality and sustainable development.

The target is accompanied by a series of goals, including healthcare, public services, employment and consumption. Top priority has been given to stabilizing employment, ensuring people's living standards and safeguarding their wellbeing.

Governments at all levels will practice fiscal frugality in the interests of the people. The Central Government will continue to tighten the belt, ensure continued increase in spending to meet the basic living needs, and help sustain and energize market entities.

The new dual-circulation model of development will expand domestic demand by tapping the potential of the domestic market and promote better alignment between consumption and investment, as well as boost further opening up of the economy and bolster ties with external markets.

This is an edited excerpt of an article originally published in Guancha.gmw.cn on March 5 

(Print Edition Title:  GDP Target)   

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