China to aim for 8% GDP growth in 2021 – report
China will target gross domestic product (GDP) growth of some 8% in 2021, Nikkei Asian Review reported on Friday, citing sources close to the government in Beijing.
The target is expected to be announced at the National People’s Congress in March, but it is believed it was approved at the Central Economic Work Conference earlier this week. China also wants to decrease government spending next year but also to help the economy amid the COVID-19 pandemic by building up banks’ capital to help them get rid of bad debt.
Earlier, People’s Bank of China Monetary Policy Committee member Ma Jun stated the country’s economy could expand by 8.5% in 2021.
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