Confident Chinese economy to meet annual growth target
A technician works on the production line of a machinery company in Luannan County, Hebei Province. [Photo/Xinhua]
China is confident it will meet its 2021 economic growth target of more than 6%, the country’s main economic regulator said on Saturday.
Speaking at a Chinese annual economic meeting organized by the China Center for International and Economic Trade, Ning Jizhe, deputy head of the National Development and Reform Commission, listed several positive economic indicators and pledged more political support to maintain economic stability.
âChina is able to meet the annual target this year,â said Ning, who is also the head of the National Bureau of Statistics. ââ¦ China’s consumer price index is expected to rise by around 1% in 2021, below the pre-set consumer inflation target of around 3%.â
The Chinese economy, although facing headwinds, has maintained steady growth this year, with key economic indicators staying within a reasonable range for the first ten months, Ning said.
Citing the key tasks set for the economy in 2022 by the Annual Central Economic Work Conference, Ning noted that the Chinese economy now faces pressures from demand, supply and expectations, saying that the China will strive to stabilize macroeconomic fundamentals and keep the major economic indicator inside. a suitable range next year.
Ning said the country will actively implement policies conducive to economic stability and continue to implement proactive fiscal policy and prudent monetary policy in 2022.
He noted that a proactive fiscal policy must be more efficient, tailored and sustainable, while a prudent monetary policy must maintain reasonable liquidity to support the real economy. And counter-cyclical and inter-cyclical adjustments should be coordinated to ensure that policies are forward-looking and focused.
In the prevention and dissemination of major risks, Ning stressed the need to improve the mechanism of prevention and elimination of financial risks, saying that more efforts will be made to curb the growth of local hidden debts.
Ning also stressed the need to stimulate consumer demand and increase efficient investments, saying the country will make better use of central budget investments and local government bonds, and accelerate the construction of key projects defined in the 14th plan. five-year (2021-25). More efforts will also be made to launch new infrastructure, new urbanizations and major projects and support the stable development of private investment.