China's top leaders opened a meeting Tuesday to craft economic policies for 2015 as the world's second-largest economy embraces slower long-term growth, state media reported Tuesday.
Policymakers gathering for the closed-door Central Economic Work Conference are expected to "map out plans" for the coming year based on an economic "new normal", the Xinhua news agency said.
President Xi Jinping and other top leaders have often spoken of the "new normal" as they try to put China's increasingly affluent consumers at the centre of the economy, rather than investment and exports.
They say they are ready to tolerate slower expansion to achieve more sustainable growth.
Xinhua did not say how long the meeting would run. Previous ones, however, have often lasted two to three days.
The annual gathering is closely watched for clues as to the coming year's goal for gross domestic product (GDP) growth, although its conclusions will probably not be formally unveiled until March.
Economists increasingly expect a lowering of the official GDP target to about seven percent owing to continuing downward pressures on the economy as well as authorities' commitment to reforming it.
China last lowered the target in 2012, to 7.5 percent from 8.0 percent. Any drop to 7.0 percent would be the lowest since 2004.
The ruling Communist Party's powerful Politburo said last week the government would "keep the economy operating within a reasonable range" in 2015.
Growth came in at 7.3 percent in the third quarter, the slowest since the height of the global financial crisis in early 2009. The economy is now facing multiple challenges including a deflating property bubble, high debt levels, and the looming threat of deflation, or falling prices.
GMT 14:02 2018 Sunday ,02 December
RDIF says $2 billion will be invested in Russian economy from joint Russian-Saudi fundGMT 12:03 2018 Friday ,30 November
Canada on track to sign new free trade deal with US and MexicoGMT 07:59 2018 Wednesday ,21 November
Merkel policies in focus in final debate on draft German budgetGMT 16:57 2018 Wednesday ,31 October
Putin to discuss relations development prospectsGMT 16:04 2018 Monday ,29 October
Russian, Cuban presidents to discuss strategic partnershipGMT 12:57 2018 Saturday ,27 October
"Undeclared war" forces Russia to boost defense spendingGMT 15:45 2018 Friday ,26 October
Medvedev to represent Russia at upcoming APEC summitGMT 14:12 2018 Thursday ,25 October
Saudi Arabia plans to invest in Russian-Chinese Fund soonMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor