China pays more attention to development quality rather than quantity

According to a report on the German “Business Daily” website on March 6, the Chinese government has set a relatively modest target for this year’s economic growth: more than 6%. Considering the current global crisis, this growth rate appears to be very high.

The report said that despite this, experts generally predict that the world’s second largest economy will easily achieve growth of 7% to 9%. But Beijing has become “cautious”.

The report quoted people in government circles as saying that China wants high-quality growth more than rapid growth.

The report noted that “cautiousness” is also reflected in the five-year plan for China’s economic development from 2021 to 2025. The Chinese government has focused on strengthening innovation and domestic consumption in its five-year plan.

According to a report on the website of the Spanish newspaper “Herald” on March 6, China has made great strides toward a new pattern after the new crown pneumonia epidemic, and will occupy a place on the glory list of major powers in this pattern. While most of the world’s economies are still struggling with vaccines, political crises and recessions, China announced its expected economic growth target of over 6% in 2021. Compared with previous forecasts, this number is not high, but it confirms that China has returned to normalization and will encourage economic recovery in the rest of the world.

According to the report, due to the new crown epidemic last year, China did not set a specific growth target and finally achieved 2.3% economic growth.

Analysts believe that the published expected growth rate fails to reach most predicted figures (the general forecast is that the growth rate will be between 8% and 9%), indicating that China is now paying more attention to the quality of development rather than quantity.

In addition, Alicia García-Herrero, chief economist for the Asia-Pacific region of the French Foreign Trade Bank, analyzed: “Conservative goals are also conducive to future development, because it sets aside more for the 2022 growth promotion policy and other necessary policies space.”