China to strengthen, improve macro-control efforts

Beijing, Oct 31 (IANS) China will continue to improve the macro-control elements of its financial reforms and opening up process, the central bank has said.

The bank is committed to maintaining China’s financial stability to ensure sustainable, healthy economic development, Xinhua cited People’s Bank of China (PBOC) Governor Zhou Xiaochuan as saying on Friday.

The major task for the bank is to implement key proposals adopted at the just-concluded Fifth Plenary Session of the 18th CPC Central Committee.

It was decided that China will target “medium-high economic growth” in the five years from 2016.

China will aim to double its 2010 GDP and per capita income of both urban and rural residents by 2020 by ensuring more balanced, inclusive and sustainable development, the statement said.

These targets for the 13th Five-Year Plan (2016-2020) were set with view to ensure that the country can realize “a moderately prosperous society” by 2020.

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