GDP target signals more pro-growth measures

China Premier Li Kequiang

BEIJING: Despite a slowdown compared with previous years, China’s gross domestic product (GDP) growth target of around 5.5% points to the nation’s proactive pursuit of economic progress on a high base and necessitates robust support from macroeconomic policies, Premier Li Keqiang (pic) says.

Meeting such an annual GDP growth rate target means the country will add nominal output of about nine trillion yuan (US$1.42 trillion or RM5.95 trillion) this year, much larger than the number a decade ago when an even higher growth rate was achieved, Li said.