Report: China aims to grow about 6.5% in 2018

China will keep its target growth at around 6.5% this year as the country seeks to balance efforts to reduce debt risks while keeping its economy stable, according to a report by Reuters.

The proposed target—already endorsed by top leaders at a closed-door central Economic Work Conference during Dec 18-20—will be revealed at the annual parliament meeting in March, the report says.

Total debt in China amounted to 255.9 % of GDP in Q2 2017, according to Bank for International Settlements estimates.

To reduce the risk debt-related risk, a 6.5% of growth will be the target as the country favors stability, said an anonymous source quoted by Reuters.

The Chinese government also aims to maintain a 3% inflation target for 2018, Reuters cites the source as saying.

 

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