China to not set detailed financial expansion goal for 2020| MENAFN.COM

Wednesday, 19 January 2022 04:12 GMT

China to not set detailed financial expansion goal for 2020


(MENAFN) China did not prepare a detailed financial expansion aim for 2020, which is an exemption for the country that had stated the number once a year in the administration work statement for years.

Chinese Leader Xi Jinping in 2021’s "two sessions," a major meeting of China’s national politicians and political consultants explained the reason behind the rare absence, against the backdrop of great uncertainty resulting from the global epidemic and the world financial and trade environment.

Chinese Xi in the discussion, informed his counterpart politicians from Inner Mongolia Autonomous Region, north China, in discussion "Had we imposed a target, the focus would have been strong stimulus and a simple grasp on growth rate. That is not in line with our social and economic development purposes."

He also said "We've emphasized that GDP growth rate could not serve as the sole yardstick of success for development."

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