What will China’s next GDP target be?

Studies published ahead of a key Communist Party policy meeting say the preferred range is likely to be between 5 and 6 per cent

Country’s economy appears to be bouncing back post Covid-19, raising hopes that strong growth will continue in the years ahead

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Studies predict growth will remain robust in the next few years. Photo: Xinhua

Published: 5:41pm, 25 Oct 2020Updated: 6:08pm, 30 Oct 2020

China’s economic growth rate should be between 5 and 6 per cent in the next few years, a number of studies published ahead of a key policy meeting have concluded.

Despite the disruption caused by the Covid-19 pandemic and deteriorating relations with the United States, the country’s economy still appears to be on course to grow this year after third quarter gross domestic product rose by 4.9 per cent, making it the best-performing economy in the world.

This has helped to fuel optimism in Beijing that the country’s economy will continue to roar ahead in the coming years.

This week the Communist Party’s Central Committee will meet in Beijing for the plenary session that will endorse the next five-year development plan and its economic road map through to 2035.

Targets for annual economic growth will remain a central part of the plans.

A growth rate between 5 and 6 is now widely regarded as the “potential growth rate” for the period, which means a higher figure would be regarded as “overheating” while anything below that would require further monetary and fiscal policy support

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