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China’s top economic planner lays out 2015 priorities

Updated: May 8,2015 8:30 PM     Xinhua

BEIJING — The National Development and Reform Commission (NDRC), China’s top economic planning department, laid out six priorities for 2015 in a statement on May 8:

— stick to proactive fiscal policy and prudent monetary policy

— work to expand domestic demand

— try to foster new growth engines

— encourage mass entrepreneurship and innovation

— upgrade industrial structure

— deepen reform and boost market vitality

The NDRC said in the statement that the Chinese economy operated in a reasonable range in the first quarter, and favorable conditions and new growth engines are emerging.

However, the economic growth trend is diverging and there is considerable downward pressure as external demand remains weak and domestic problems linger, according to the commission.

“As long as we coordinate short-term measures and long-term policy, pro-growth actions and reform plans, and manage the economy in an innovative and effective way, we are capable of delivering the economic and social development targets set for 2015,” said the statement.

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