China Leaders Say 5.5% GDP Growth Is Guidance, Not Hard Target.

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Chinese leaders told the government that this year’s economic growth of about 5.5% is a guidance; and not a hard target in a meeting.

At the meeting, the top leaders told officials from the ministerial and provincial-level that the target will not be used to evaluate their performance; neither will there be any penalty for failing to meet the target. The leaders acknowledged that the chances of achieving the set goal are thin, the report added.

China’s State Council Information Office, which handles media queries for the central government; did not immediately respond to a Reuters request for comment.

On July 28, the Chinese Politburo, after a high-level meeting, said that it would strive to achieve best possible results for economy, without mentioning the GDP target. The country will stick to “dynamic” zero-COVID policy and efforts to stabilise property markets, it had added then.

Reuters.

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