Expert: Economic downturn will not affect potential growth
- By Wu Jin
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E-mail China.org.cn, August 21, 2015
The new normal in the economic downturn will not affect China's potential economic growth in view of the country's 13th Five-Year-Plan (2016-2020), according to Hu Angang, professor of the School of Public Policy and Management of Tsinghua University.
Hu made the speech at China Internet Information Center on Aug. 20, 2015.
According to Hu, China's economic growth has been generally hovering around 7 percent or even higher which provides a solid foundation for stable performance in the future, in line with public expectations.
The low end of the growth this year is in connection with the rule of economic cycle, as it is known that the economic growth hit a peak in 2007, five years after it sagged in 2002.
The seven-percent economic growth this year has been a bottom line for China. "Despite mounting public concerns over the declining figure, people need to attach more importance to the changing growth pattern," Hu said.
He also reiterated that the economic performance over the past four years is key to the implementation of the 13th Five Year Plan, which, according to Hu, should focus on five aspects, including economic development, economic restructuring, education on science and technology, natural resources and the people's livelihood.
Hu recently gave the development of the economy in the 12th Five-Year-Plan (2011-2015) a score of 93.1 points out of 100.
He explained that in spite of the world's sluggish economic growth , China has made great strides in its economic development, science and technological applications and comprehensive national strength, thanks to the competence of the central government, which will ensure consistency in the foreseeable future.
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