Economist: GDP goal within grasp

Party head at SASS says policy tools, ongoing industrial upgrade favor China

China can realize its 2024 GDP growth target of around 5 percent, given its favorable conditions, greater efforts to boost industrial upgrade, technological innovation and sufficient policy tools, said a renowned economist.

Quan Heng, Party secretary of the Shanghai Academy of Social Sciences, said China has a solid foundation and the right conditions to achieve steady growth with support from its ultra-large domestic market, strong innovative capability and ongoing efforts to deepen reforms and opening-up.

"The growth target of around 5 percent is reasonable and realistic," said Quan, who is also a deputy to the 14th National People's Congress, the country's top legislature, in an exclusive interview with China Daily. "China still has sufficient room for industrial upgrade, technological innovation and productivity improvements."