Commentary from Gordon Orr, the Chairman, Asia at McKinsey & Company.
The National People’s Congress, China’s annual parliamentary meeting, is in session this week in Beijing. Observers are parsing Premier Li Keqiang’s announcement, made on the first day of the Congress, that the government will be targeting “around 7.5%” GDP growth in 2014.
7.5% GDP growth? No surprise there. The numbers to do a detailed, bottom-up disaggregation aren’t there yet, but picking on the specific numbers included can give an idea.
Where is 7.5% growth going to come from?