A Number Of CPPCC Members Predict That This Year's Economic Growth Target Or Less Than 8%

After 8% years of regulation target, this year's economic growth target is expected to be lowered.

A number of CPPCC members and experts interviewed expect that under the guiding ideology of steady progress, the target of GDP regulation will be lowered to this year.

Since 2005, the central government has set the growth target of GDP for 8% consecutive years in seven years.

At the two national meetings in 2011, Premier Wen Jiabao said in the government work report that China's economic growth target is expected to grow by 7% annually on the basis of obvious improvement in quality and efficiency over the next five years.

Based on this, a number of CPPCC members said that in the next few years, the government will take the initiative to lower the regulatory objectives of economic growth.

"Economy"

"Appropriately reducing the speed of economic growth will not have much impact on China's economic development, but it will give us more room to adjust our economic structure."

Mei Xingbao, member of the CPPCC National Committee and President of the former Oriental Asset Management Co.

Mei Xingbao believes that appropriate economic growth can be reduced.

In terms of price, inflation pressure has been relieved somewhat as CPI continues to fall.

It is predicted that this year the government is expected to set the target of CPI regulation around 4%.

However, experts pointed out that under the background of the long-term pressure of imported inflation pressure, the rising prices of domestic resource goods and the rising labor costs, China is still facing greater inflationary pressures. It is not easy to achieve the target of 4%.

Many other indicators of economic growth may also decline.

In the important year of implementing the "12th Five-Year plan", there are many challenges for industrial growth.

Experts predict that in 2012, the target of industrial added value growth above Designated Size will probably be around 11%.

In addition, it is worth mentioning that this year the government will continue to implement a proactive fiscal policy.

Experts predict that although the scale of local bond issuance will expand appropriately this year, the overall fiscal deficit will continue to show a downward trend or a further reduction of 1 percentage points.

It is foreseeable that the positive fiscal policy will shift from the past increase to the tax reduction, which means that the overall tax revenue growth will slow down.