Reuters on Wednesday (November 22) reported that several interviewed Chinese government consultants suggested that the target of economic growth next year will be set between 4.5%and 5.5%.
Of the seven consultants interviewed by Reuters, five people agreed to set the goal of China's growth next year to about 5%, which is the same as this year's goals.One consultant proposed 4.5%of the goal, while the other advised 5.0%to 5.5%.
These suggestions will be proposed at the Central Economic Work Conference of the Year of the Communist Party of China next month that the meeting will judge the current economic situation and set the macroeconomic policy next year.
Several consultants said that in order to achieve these goals, Beijing needs to increase fiscal stimulus because this year's economic growth has been affected by the low base of crown disease last year.
It is advocated that Yu Yongding, a Chinese economist who sets the goal of about 5%, said: "We need to adopt expansion finance and monetary policy to stimulate the total demand."
Yu YongdingIt is said that since the corporate confidence has not been restored, the demand for investment in enterprises will not be strong, so it is necessary to expand infrastructure investment.Yu Yongding also supports budget deficit accounts for more than 4%of economic output.
It is reported that other consultants require anonymous.It is expected that China's supreme leader will approve the economic growth goal next year at a December meeting, but it will not be publicly announced until the People's Congress usually held in March.
