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Monday, March 6, 2017, 12:40

NDRC: China's new GDP target necessary, attainable

By Xinhua
NDRC: China's new GDP target necessary, attainable
Director of the National Development and Reform Commission (NDRC) He Lifeng anwsers questions during a press conference on China's economic and social development and macro-economic control for the fifth session of the 12th National People's Congress in Beijing, capital of China, March 6, 2017. (Xinhua / Li Xin)

BEIJING - Head of China's top economic planning body said Monday that the economic growth target of around 6.5 percent set for 2017 is both necessary and attainable.

The target is necessary as job creation is an important task for China, He Lifeng, head of the National Development and Reform Commission, said at a press conference on the sidelines of the ongoing national legislature annual session.

According to our experience, each 1 percentage point of GDP growth will help create about 1.7 million jobs

He Lifeng, head of the National Development and Reform Commission

"According to our experience, each 1 percentage point of GDP growth will help create about 1.7 million jobs," he said.

Without quality growth at a reasonable level, the country will find it hard to meet the job creation target of over 11 million, unveiled in a government work report delivered by Premier Li Keqiang on Sunday, He said.

READ MORE: China's 2016 urban unemployment rate stands at 4.02%

China also needs to realize medium-high growth as it aims to build a "moderately prosperous society in all respects" by 2020 and faces tasks to improve people's livelihood, he added.

READ MORE: Xi calls on intellectuals to better contribute to nation

He also expressed his confidence in meeting the GDP target, citing healthy growth last year and deepening reform that improves economic environment.

China's B&R investment exceeds US$50b

At the conference, He also said China has invested more than US$50 billion in countries along the Belt and Road since the nation proposed the initiative in 2013.

The Belt and Road Initiative has won support from over 100 countries and international organizations, with nearly 50 cooperation agreements signed between governments, said He.

He said progress under the initiative was "better than expected."

The initiative was proposed by China in the hope of creating a trade and infrastructure network connecting Asia with Europe and Africa along ancient trade routes.

In the spirit of regional connectivity, China is working in aviation, power, rail, road and telecommunications projects with participating countries.

To further strengthen cooperation, China will host a high-level forum on the Belt and Road Initiative in Beijing in May.

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