China’s leaders are poised to endorse a lower economic growth target for Beijing’s next five-year plan compared with 2016-2020, as authorities navigate growing challenges fueled by a deepening rift with the United States, Reuters policy sources have said.
President Xi Jinping and other leaders are expected to discuss and approve China’s economic and social development blueprint for 2021-2025 at a key Communist Party conclave in October, the sources told Reuters.
State news agency Xinhua said on Monday the meeting will be held from Oct. 26-29.
Government think tanks and economists have made recommendations for average annual gross domestic product (GDP) growth targets including “around 5%”, 5-5.5% to 5-6%, the sources said. China is targeting average annual growth of over 6.5% for the 13th five-year plan that ends this year.