[Explanation] The "Government Work Report" pointed out that the main expected target for China's development in 2022 is a GDP growth of about 5.5%. What are the special considerations for this setting?
On March 5, the State Council Information Office held a briefing on the interpretation of the "Government Work Report".
Xiang Dong, deputy director of the Research Office of the State Council, responded that such a goal setting first considered the needs of stabilizing employment, protecting people's livelihood, and preventing risks.
[Concurrent] Xiang Dong, Deputy Director of the Research Office of the State Council
Economic stability is the foundation.
If the economy is unstable, it will be difficult to stabilize employment and income, and some hidden risks may come to light.
To achieve a growth rate of around 5.5% this year, we will have the foundation to expand employment and increase income, and the economy will be able to maintain a reasonable range.
[Explanation] Xiang Dong said that the proposal of the goal also takes into account the average economic growth rate in the past two years, which is more scientific and reasonable.
It is in line with the potential growth level of China's economy at the current stage, and is also conducive to guiding expectations, boosting confidence, and building consensus on development.
[Concurrent] Xiang Dong, Deputy Director of the Research Office of the State Council
In the past two years, my country's (economic) average growth rate was only 5.1%.
In 2019, before the epidemic, we designed an interval value between 6% and 6.5%, and the actual increase in that year was 6.1%.
Although the "14th Five-Year Plan" does not set specific economic growth expectations, it requires that it be kept within a reasonable range.
Taking these factors into consideration, it is more scientific and reasonable to set the expected growth target for this year at around 5.5%.
[Explanation] Xiang Dong explained that the economic growth rate of 5.5% is aimed at medium-to-high-speed growth on a high base, which reflects active actions.
[Concurrent] Xiang Dong, Deputy Director of the Research Office of the State Council
I think just like what the "Government Work Report" said, this is a medium-to-high-speed growth on a high base, which reflects a spirit of initiative.
Last year, my country's GDP reached 114.4 trillion yuan. What is the concept of an increase of 5.5% on this basis?
This is equivalent to an increase of 7.4% 5 years ago and 10.5% 10 years ago.
The corresponding economic (incremental) volume exceeds 9 trillion yuan, which is close to the annual economic aggregate of the 11th and 12th economies in the world.
[Explanation] How to achieve this goal?
Xiangdong responded that it is not easy to achieve this goal, and hard work must be made.
[Concurrent] Xiang Dong, Deputy Director of the Research Office of the State Council
The first is to insist on keeping the word steady and seeking progress while maintaining stability.
We should put steady growth in a more prominent position.
All localities and departments should earnestly shoulder the responsibility of stabilizing the macro economy and actively introduce policies that are conducive to stabilizing economic growth.
The second is to intensify the implementation of macro policies.
Monetary policy should strengthen support for the real economy, which can provide strong support for the smooth operation of the economy.
The third is to unswervingly deepen reform, expand opening up, promote innovation, firmly implement the strategy of expanding domestic demand, and strive to stimulate market vitality and enhance the endogenous driving force for development.
Reported by Chi Hanyu in Beijing
Responsible editor: [Li Ji]