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ECONOMY

China Unlikely to Ditch Growth Target for 2018, Goldman Sachs Says

By Fran Wang and Liu Yanfei
A slight moderation in the government's economic growth target will signal that it is prioritizing quality over speed “while still being consistent with goals from the previous Congresses to double income over this decade,” the Goldman Sachs economists wrote. Photo: Visual China
A slight moderation in the government's economic growth target will signal that it is prioritizing quality over speed “while still being consistent with goals from the previous Congresses to double income over this decade,” the Goldman Sachs economists wrote. Photo: Visual China

China is unlikely to abandon setting an economic growth target next year, although it may set a slightly less ambitious goal of “around 6.5%,” investment bank Goldman Sachs said in a report.

Speculation has grown that the government will lower the annual target for growth in gross domestic product (GDP) or abandon it altogether after President Xi Jinping stopped short of following his predecessors in setting a long-term economic expansion target at the twice-a-decade Party Congress last month.

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