China Likely to Set Slower GDP Growth Target for 2018, UBS Says

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China’s main annual economic policy meeting is likely to set a slightly lower growth target for 2018, suggesting that deleveraging will be gradual and no "serious" property tightening measures are in the pipeline, Bloomberg News reported. That’s according to Wang Tao, head of China economic research at UBS Group AG in Hong Kong. She argues in a Dec. 5 note that policy makers won’t drop a numerical growth target altogether, though may set a range similar to this year’s at around 6.5 percent without repeating this year’s language that it should be higher if possible in practice. Policy makers usually convene their annual Central Economic Work Conference in December. The growth target is usually announced in March at the meeting of the country’s legislature. Though President Xi Jinping didn’t specify a longer-term growth target at the twice-a-decade Party Congress in October, "we think the government still intends to achieve the goal of doubling 2010 gross domestic product by 2020, as an essential part of achieving the ‘prosperous society’ objective,” Wang said. Read more.