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China decides not to set GDP target for 2020
Published on: 2020-05-22
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economy 01China made a rare decision not to set a target for its economic growth for 2020 due to uncertainties about the impact of the coronavirus.
 

"I would like to point out that we have not set a specific target for economic growth this year," Chinese Premier Li Keqiang said in an English-language text of the work report delivered on Friday.
 

"This is because our country will face some factors that are difficult to predict in its development due to the great uncertainty regarding the Covid-19 pandemic and the world economic and trade environment," Li said.

Employees work on a drilling machine production line at a factory in Zhangjiakou Hebei provinceEmployees work on a drilling machine production line at a factory in Zhangjiakou, Hebei province
 

The remarks are part of China's annual parliamentary meeting, which was delayed by about two months this year due to the coronavirus outbreak that began in China last year and has since spread globally.

gdpAs a result, some analysts expected ahead of the report that Li might share a GDP target for a timeframe other than 2020 itself. Last year, GDP expanded by 6.1%, just making the official target range of 6% to 6.5%.
 

China's economy contracted by 6.8% in the first quarter, while unemployment has stayed near historic highs. Although data have shown some recovery in April, officials have publicly aired concerns about a drag on growth from the coronavirus' spread overseas.
 

Economists have cut their growth forecasts for the official GDP — a figure that many economists often doubt. In late March, Beijing-based China International Capital Corporation (CICC) notably lowered its real GDP growth estimate to 2.6%, down from 6.1% previously.
 

2020GDP增速不设具体目标

十三届全国人大三次会议今天(5月22日)上午开幕,国务院总理李克强代表国务院向十三届全国人大三次会议作政府工作报告,报告首次对全年经济增速不设具体目标。
 

对疫情前考虑的预期目标作了适当调整

今年要优先稳就业保民生,坚决打赢脱贫攻坚战,努力实现全面建成小康社会目标任务;城镇新增就业900万人以上,城镇调查失业率6%左右,城镇登记失业率5.5%左右;居民消费价格涨幅3.5%左右;进出口促稳提质,国际收支基本平衡;居民收入增长与经济增长基本同步;现行标准下农村贫困人口全部脱贫、贫困县全部摘帽;重大金融风险有效防控;单位国内生产总值能耗和主要污染物排放量继续下降,努力完成“十三五”规划目标任务。
 

为何没有提出全年经济增速具体目标

政府工作报告说,没有提出全年经济增速具体目标,主要因为全球疫情和经贸形势不确定性很大,我国发展面临一些难以预料的影响因素。这样做,有利于引导各方面集中精力抓好“六稳”、“六保”。“六保”是今年“六稳”工作的着力点。守住“六保”底线,就能稳住经济基本盘;以保促稳、稳中求进,就能为全面建成小康社会夯实基础。

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