CPC sets the tone for economic growth in 2015

Dec 09, 2014  |  by


Beijing grips the public attention today as it does sometime in December every year when the top echelon of the Communist Party of China (CPC) has a tone-setting meeting known as “the Central Economic Conference” to chart the course and direction of economic growth in the coming new year. After over 30 years of rapid growth, the high speed system itself is shunted onto the mid-high track which was already the case of the first three quarters in 2014, registering 7.4%, 7.5% and 7.3% respectively instead of the double-digit growth over the past years. Analysts are of the opinion that China’s GDP in 2015 will be scaled down to somewhere around 7%, believing this level suffices to provide over 10 million new jobs without any impact on important economic indicators, good enough to keep social stability and consumption boost.

Although the exact growth rate remains unleashed until March in 2015 when the well-known “Two Convocations” — National People’s Congress (NPC) and Chinese People’s Political Consultative Conference (CPPCC),are held in Beijing to review the government report in which the new growth target is clearly stated, the macro-economic policy tone and the general goal for economic and social development in 2015 shall be set forth with some episodes in the comprehensive and deep reform drama to have breakthroughs with respect to land, fiscal and state-owned enterprises systems, as expected by some economists, presumably.






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