{"id":227082,"date":"2025-10-20T09:07:07","date_gmt":"2025-10-20T09:07:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/227082\/"},"modified":"2025-10-20T09:07:07","modified_gmt":"2025-10-20T09:07:07","slug":"as-china-drafts-its-next-5-year-plan-is-gdp-still-the-magic-number","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/227082\/","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":227083,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,3686,99,137414,512,35794,182,164,137410,17119,81072,5474,137413,137411,137412,13441,10649,20259,1055],"class_list":["post-227082","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-beijing","tag-business","tag-carnegie-china","tag-china","tag-consumption","tag-economic-growth","tag-economy","tag-five-year-plan","tag-gdp","tag-gross-domestic-product","tag-investment","tag-michael-pettis","tag-shanghai-institution-for-finance-and-development","tag-shao-yu","tag-target","tag-trade-war","tag-trivium","tag-united-states"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/227082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=227082"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/227082\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/227083"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=227082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=227082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=227082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}