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China’s Xi Says GDP Growth No Less than 6.5% Until 2020: Reports

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China’s President Xi Jinping has said the country’s economic growth rate will not be less than 6.5 percent in the five years to 2020, Reuters reported Tuesday, citing the state-run Xinhua news agency.

Beijing needs average growth of close to 7 percent over the next five years to hit a previously declared goal of doubling gross domestic product and per capita income by 2020 from 2010.

But its leaders have been tempering growth expectations in recent months. Premier Li Keqiang has noted last month that China had never set 7 percent growth in stone, while a top People’s Bank of China (PBOC) official said that the country would be able to keep economic growth at around 6-7 percent this year.

CNBC

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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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