China revises up GDP growth for 2014-2018, on track to double economy

TheStar Mon, Jan 20, 2020 04:14pm - 4 years View Original


People walk outside Beijing Railway Station during the annual Spring Festival travel rush ahead of the Chinese Lunar New Year, in Beijing, China January 20, 2020. REUTERS/Carlos Garcia Rawlins

BEIJING: China has revised up its economic growth by 0.1 percentage points each year between 2014 and 2018, the National Bureau of Statistics said, making it easier for Beijing to fulfil its goal of doubling the size of the economy by 2020 from 2010.

Annual gross domestic product (GDP) growth for 2014-2018 has been raised to 7.4%, 7.0%, 6.8%, 6.9% and 6.7% from 7.3%, 6.9%, 6.7%, 6.8% and 6.6% previously, the latest data from the statistical bureau showed on Saturday.

Based on the revised figures, real GDP growth of at least 5.6% in 2020 would be enough for achieving Beijing's target to double GDP in the decade to 2020, according to Reuters calculations, in line with analysts' estimates.

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