{"id":133567,"date":"2025-10-20T08:59:07","date_gmt":"2025-10-20T08:59:07","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/133567\/"},"modified":"2025-10-20T08:59:07","modified_gmt":"2025-10-20T08:59:07","slug":"as-china-drafts-its-next-5-year-plan-is-gdp-still-the-magic-number","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/133567\/","title":{"rendered":"As China drafts its next 5-year plan, is GDP still the magic number?"},"content":{"rendered":"

For decades, the annual target for gross domestic product growth was the most critical policymaking benchmark across China.<\/p>\n

In pursuit of that all-important figure, officials around the country embarked on a spree of infrastructure investment, industrial expansion and resource mobilisation that helped make China the world\u2019s second-largest economy and lift 800 million people out of poverty.<\/p>\n

But as growth rates have slowed, that outlook may have lost some of its resonance. Attention has turned to other indicators of economic health as the country transitions to a period of what Beijing calls \u201chigh-quality development\u201d<\/a>.<\/p>\n

And with the members of the ruling Communist Party\u2019s Central Committee meeting this week to draw up an outline for the 15th five-year plan \u2013 China\u2019s development blueprint for the rest of the decade \u2013 perspectives may shift further.<\/p>\n

In the current plan, ending this year, Beijing did not give a quantitative target<\/a> for the first time, instead pledging to keep GDP growth \u201cwithin a reasonable range\u201d.<\/p>\n

That plan was released in early 2021, when the global economy was still grappling with the shocks of the Covid-19 pandemic. But many analysts say maintaining a certain growth rate remains crucial for the country, even if some focus has moved from the number itself to how it is achieved.<\/p>\n","protected":false},"excerpt":{"rendered":"For decades, the annual target for gross domestic product growth was the most critical policymaking benchmark across China.…\n","protected":false},"author":2,"featured_media":133568,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[174],"tags":[1793,79,79950,381,8886,2784,179,18,57283,9207,30055,19,2003,17,79949,79947,79948,38073,3429,79951,384],"class_list":{"0":"post-133567","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-beijing","9":"tag-business","10":"tag-carnegie-china","11":"tag-china","12":"tag-consumption","13":"tag-economic-growth","14":"tag-economy","15":"tag-eire","16":"tag-five-year-plan","17":"tag-gdp","18":"tag-gross-domestic-product","19":"tag-ie","20":"tag-investment","21":"tag-ireland","22":"tag-michael-pettis","23":"tag-shanghai-institution-for-finance-and-development","24":"tag-shao-yu","25":"tag-target","26":"tag-trade-war","27":"tag-trivium","28":"tag-united-states"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/133567","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=133567"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/133567\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/133568"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=133567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=133567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=133567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}