China News Service, Beijing, March 5 (Reporter Li Xiaoyu) The government work report released on the 5th set the expected target for China's economic growth this year at "around 5%," which is consistent with last year's target.
Analysts here believe that this arrangement is a balance between "need" and "possibility", and there are multiple considerations behind it.
On March 5, the second session of the 14th National People's Congress opened in the Great Hall of the People in Beijing.
Photo by China News Service reporter Yang Huafeng
First, stabilize the overall economic situation and promote high-quality development.
At present, while China's economy is recovering and improving, it is also facing difficulties such as the complex and severe external environment, insufficient effective demand, and structural contradictions in employment.
Whether it is to gain a foothold in fierce international competition, to promote the optimization and upgrading of the economic structure, or to solve employment problems and increase residents' income, it is necessary to maintain a certain economic growth rate.
As Yang Weimin, Vice Chairman of the China Center for International Economic Exchanges, said, high-quality development must first have development, that is, the increment of gross domestic product (GDP), and then look at whether the increment has achieved structural optimization, technological progress, efficiency improvement, and carbon emissions. emissions and pollutant discharge reduction, etc.
Setting an economic growth target of “around 5%” is also necessary to stabilize expectations and confidence.
Zong Liang, chief researcher of the Bank of China, said in an interview with a reporter from China News Service that China's goal is at a relatively high level among the world's major economies and sends a clear signal to both domestic and overseas countries: China is still capable of achieving stable economic growth and will still play a pulling role. role as a major engine of the global economy.
Dong Yu, executive vice president of the China Development and Planning Institute of Tsinghua University, said that as a "baton", the economic growth target is set at a relatively positive level, which will drive economic policies in various fields to also be proactive. This is consistent with last year's Central Economic Work Conference. The consistent tone of "seeking progress while maintaining stability, promoting stability through advancement, and establishing first before breaking" will help to effectively boost the confidence of the whole society.
On March 5, the second session of the 14th National People's Congress opened in the Great Hall of the People in Beijing.
Photo by China News Service reporter Sheng Jiapeng
Second, connect with long-term goals and not push back pressure.
Although the "14th Five-Year Plan" does not set an expected target for the five-year average annual GDP growth rate, considering that China plans to basically realize socialist modernization by 2035, the annual economic growth rate still needs to be maintained within a reasonable range.
Dong Yu believes that the economic growth target of “around 5%” takes into account the requirements for potential economic growth put forward by the “14th Five-Year Plan” and the 2035 long-term goals.
Striving to achieve a relatively high economic growth rate in the early stage can avoid pressure to delay and try to win the opportunity to basically realize the goals and tasks of socialist modernization in 2035.
Third, we must have the foundation and ability to achieve our goals.
Against the backdrop of an overall slowdown in world economic growth, China's economy grew at a year-on-year rate of 5.2% last year, an outstanding performance in the world.
Consumption is picking up, the total value of imports and exports has increased steadily, and the investment confidence of private enterprises has rebounded. These positive signs have laid the foundation for the continued improvement of the economy this year.
New growth drivers are also developing day by day.
At present, the investment growth rate in China's high-tech manufacturing and high-tech service industries far exceeds the overall level. New industries, new business forms, and new models are emerging at an accelerated pace, and their driving effect on economic growth continues to increase.
Zong Liang said that despite various challenges, the favorable conditions for China's economy still outweigh the unfavorable factors, and China has the confidence to achieve an economic growth rate of about 5%.
The formulation of "left and right" expands the market's flexibility in the "acceptability" of economic growth.
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