China Puts Tough Reforms on Hold to Focus On Growth: NPC Roundup
- Ambitious GDP target will be a challenge, economists say
- Beijing plans to stimulate economy without relying on debt
Pedestrians pass Chinese flags in Beijing.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China has set an ambitious economic growth target for this year, and is dialing back its tough structural reforms as it shifts toward stimulus.
That’s the takeaway from the weeklong annual session of the National People’s Congress, the Communist Party-controlled parliament, which ended Friday. It’s the the biggest political event before the Party’s congress later this year, when President Xi Jinping is expected to extend his term as leader.