China’s top policymakers pledged more-effective measures to ensure stable growth next year as the world’s second-largest economy faces increasing downward pressures, reported Caixin.
While focusing on maintaining economic stability, China will continue stepping up efforts to deepen structural reforms to ensure economic growth within a reasonable range and steadily improve the quality of the economy, according to a statementreleased by state media after the three-day Central Economic Work Conference, which concluded on Thursday in Beijing.
The year 2020 marks the final year for China to fulfill its goal of building a “moderately prosperous society” with gross domestic product and per capita income doubling from 2010.
Maintaining economic stability is highlighted in the statement of this year’s meeting, reflecting an urgency to combat downward pressures as economic growth slowed to a near 30-year low of 6% in the third quarter. Economists have said they widely expected that China will set its 2020 growth target at about 6%, down from a 6% to 6.5% range set in 2019.