China sets 6.5 % GDP growth rate for 2017 by Muhammad ZamirAssadi


China sets 6.5 % GDP growth rate for 2017

Beijing:China has announced to maintain the GDP growth rate around 6.5 percent, or higher if possible in practice. It was stated by Chinese premier Li Kiqiang while presenting a work report to public on Sunday at the opening session of China’s top legislature, the National people’s congress,

“The projected target for this year’s growth is realistic and in keeping with economic principles, it will help steer and steady expectations and make structural adjustments and it will help achieve the goal of finishing the building of moderately prosperous society in all aspects”, said Premier Li Kiqiang.

PM also announced to create 11 million new urban jobs, and a registered urban unemployment rate within 4.5 percent while steady rise for import and export volume will be focused,

In the current year, maintain stable growth, promote reforms, make structural adjustments, improve living standards and guard against risks has been finalized.

China is at crucial and challenging stage in its own development endeavors, and there are many salient challenges and problems in the economy but we must remain confident that they will be overcome, told PM Li at the session.

While talking about the major achievements in its diplomacy, he told that Chinese leaders visited many countries last year and attended outstanding international events, including the 24th APEC Economic Leaders Meeting, the Shanghai Cooperation Organization Summit, the BRICS leaders meeting, the nuclear security summit, high level meetings of the 71st session of the UN general assembly and others.

For reforms the five priority tasks were also announced including solid and effective steps to cut overcapacity, target policies to cut excessive urban real estate inventory, carry out deleveraging in an active and prudent way, taking multiple measures to cut costs and powerful measures to strengthen areas of weakness.

The work report also highlights deepening reforms in major sectors and key links will be implemented in this year. It states that government functions will be transformed with the fiscal and tax systems as the advance reforms in the financial sector are also on the cards by speeding up the reform of SOEs and state capital.

PM Li assured to accelerate the building of overland economic corridors and maritime cooperation hubs and establish cooperative mechanisms for achieving compatibility in customs clearance procedures along the routes.

“We offer a meeting of real quality, opening the page on a great new chapter of mutually beneficial cooperation in holding the belt and road forum for international cooperation”, stated by PM at the opening session

He also announced comprehensive plan for the enrollment of students from poor rural areas arkeu colleges and universities as the government grants for PhD students will also be increased.

The premier also mentions that the principle of “one country, two systems,” is steadfastly applied in Hong Kong and Macao without being bent or distorted while the policies on the work related to Taiwan will be thoroughly implemented.

PM also made it clear that any activity in any form or name, which attempts to separate Taiwan from the mother land will not be tolerated and separatist activities for Taiwan independence will resolutely be opposed.