China's State Council participates in GDP growth target of 6% next year

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      Yao Jingyuan, a special researcher at the Counselor's office of the State Council, suggested on Wednesday that China's economy is still under great downward pressure. Next year's GDP target should still be set at about 6%, the deficit rate target should be raised to 3%, and there is still room for interest rate reduction.
At a news teahouse in Beijing, he pointed out that the current problems facing China's economy are summarized as "one up and one down". The economic growth rate is down, CPI is up, and CPI is mainly driven by pork prices. It's structural price rise, it's pork problem, not currency problem. Even if the fiscal deficit rate rises to 3% next year, the rate of interest rate reduction and standard reduction of monetary policy will not be greatly pushed forward Up CPI.
"In terms of the GDP trend this year, the downward pressure is great. After more than 30 years of economic development, there is no need to pursue high speed deliberately, but not a certain speed. At present, it is important to stabilize the downward trend. As long as employment and prices are stable, even if GDP breaks 6, it will be OK. " Yao Jingyuan said.


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