2016年CRI Economic Issues Top Political Advisors' Concerns

（单词翻译）

Chinese government's growth target, as well as details of plans to shore up the economy, is being closely watched for at this year's CPPCC sessions.

CPPCC National Committee member Liu Shijin says economic growth is a leading concern among the public.

"In the short term, people are concerned about the current macroeconomic trend, as the downward pressure is fairly large."

Growth in China came in last year at 6.9-percent, which authorities say is part of the "new normal," following years of growth which hovered¹ in-and-around the double-digit mark on an annual basis.

However, discussions now among advisors² are what growth rate will be acceptable for this year.

Economist³ Jia Kang argues it's necessary to prevent economic growth from falling below 6.5 percent.

"I think the growth range of 6.5 percent to 7 percent is acceptable. If the rate falls to less than 6.5 percent, we will have to bring in measures to stabilize⁴ growth."

Many economic observers have suggested a growth rate of 6.5-percent is needed in China to ensure that job numbers remain at a reasonable level.

Chinese President and CPC General Secretary Xi Jinping is on-record saying annual growth of at least 6.5 percent will be required to reach the government's goal of doubling the per capita income of people from 2010's figures in the next 5-year plan.

CPPCC member Jia Kang is predicting the Chinese economy is likely to bottom out at about 6.5 percent this year before stabilizing⁵.

At the same time, Huang Yiping, a professor of the National Development Institute at Peking University, says stabilizing growth will require action.

"What we are concerned about is not simply the speed of economic growth, but what measures will be needed for realizing basic economic growth."

Huang says this will require following a basic principle.

"The reform tasks are clear: Cut down on excessive production capacity, leverage⁶ and inventories⁷ to dry up excess capacity and reduce costs. The motivation and the goals are obvious. What we want to see during the NPC and CPPCC sessions is what exact measures will be taken, and how strong the measures are."

The country's top lawmaking body, the National People's Congress, will convene⁸ on Saturday.

Aside from deliberating the details of the Government Work Report for this past year, they'll also be discussing numerous reform policies before giving their approval.

Most observers expect both lawmakers and political advisers⁹ are going to endorse¹⁰ a growth target of 6.5 to 7 percent for this year, as well as a more proactive fiscal¹¹ policy.

They're also expected to endorse a plan to increase the national deficit¹², while at the same time, allowing for more tax and fee cuts.

For CRI, this is Luo Bin¹³.