Home / Knowledge / News / Textiles / China needs 6.3% annual growth in 2018-20 to double GDP
China needs 6.3% annual growth in 2018-20 to double GDP
29
Dec '17
China needs an annual growth of 6.3 per cent in 2018-2020 to achieve its target of doubling the 2010 gross domestic product (GDP) by 2020, Yang Weimin, deputy head of the country’s office of the central leading group on financial and economic affairs, said at an economics forum recently. Yang does not foresee any huge barrier in meeting that goal.

China decided to double the 2010 GDP and per-capita income by 2020 five years ago to turn a moderately prosperous society.

GDP expanded 6.9 percent year on year in the first three quarters of 2017, above the government's target of around 6.5 percent for the whole year, according to a Chinese government-controlled newspaper.

In a report delivered at the 19th National Congress of the Communist Party of China, no more GDP-doubling target was mentioned, showing China's emphasis on development quality rather than fast expansion.

The focus will be on high-quality development, instead of rapid growth, as the potential growth rate has changed due to upgraded consumption, financial risk and environmental constraints, Yang said at the forum.

Ignoring these realities, if China continues to be obsessed with fast growth rates, the concomitant risks will outweigh the increase in GDP, he added. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

China reportedly cancels trade talks with US, Liu He visit

Apparel/Garments | On 22nd Sep 2018

China reportedly cancels trade talks with US, Liu He visit

Washington is reportedly positive about arriving at a solution to its ...

AmCham Cambodia cautions US against possible sanctions

Apparel/Garments | On 22nd Sep 2018

AmCham Cambodia cautions US against possible sanctions

In a letter to US lawmakers, the American Chamber of Commerce...

Courtesy: ycloset

Apparel/Garments | On 22nd Sep 2018

Alibaba invests in clothes sharing platform Ycloset

Chinese garment sharing platform YCloset has completed an undisclosed ...

Interviews View All

Marazban F Velati, Sutlej Textiles & Industries limited

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Top executives, Textile industry

Top executives
Textile industry

Overall, Union budget 2018-19 is very balanced

Top executives, Textile industry, India

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Mala Alwani,

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Umang Banthia,

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Johan Berlin, Investkonsult Sweden AB

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search