Business

China likely to set next year's growth at 6.5 per cent

BEIJING: China will likely set its 2018 economic growth target at around 6.5 per cent, unchanged from the previous year.

It leaves more room for quality growth as a government deleveraging campaign is set to intensify, a policy adviser was quoted as saying yesterday.

Mr Lou Feng, a researcher at the Chinese Academy of Social Sciences, a state think-tank, expects China to rely more on "innate drivers" for economic growth such as technology next year, stressing the country is now minimising the importance of quantitative targets, according to Chinese newspaper 21st Century Business Herald.

MARKET WATCH

China routinely sets an annual growth target, which is watched by the market for clues on how much the government will likely stimulate the economy throughout the year.

The Chinese economy is on course to hit an expansion of 6.8 per cent this year, Mr Lou said, according to the newspaper. - REUTERS

BUSINESS & FINANCE