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2nd LD-Writethru: 6.5 pct annual growth China's bottom line for 2016-2020: Xi

Xinhua, November 3, 2015 Adjust font size:

President Xi Jinping has said that the country's annual growth rate should be no less than 6.5 percent in the next five years to realize the goal of doubling the GDP and per capita income of 2010 by 2020.

Xi made the remarks when addressing the Fifth Plenum of 18th CPC Central Committee last week on the party's proposal to China's 13th Five-Year Plan covering 2016 to 2020.

To double the 2010 GDP and per capita income of both rural and urban residents, China must maintain medium-high growth for the next five years.

"Maintaining a medium-high level of growth is conducive to improving people's lives so that they can truly benefit from living in a moderately prosperous society," Xi said.

"In the next five years, China's development should not just be focused on growth pace, but also growth volume, and, more importantly, growth quality," Xi said.

China should maintain economic growth while at the same time transform its development pattern, optimize the economic structure, improve the environment and raise development quality and efficiency, the president said.

According to the proposal unveiled Tuesday, China will coordinate different economic indicators during the next five years to make development more balanced, inclusive and sustainable.

The service sector's share in GDP will continue to increase and consumption's contribution to economic growth will rise significantly. China is aiming to become an innovation-driven nation with a more competent work force.

It is going to need some time to eliminate excessive production capacity, optimize economic structure and realize innovation-driven development, Xi said.

As a result, it is not easy to maintain relatively fast growth, he said.

The growth target range had been informed by the guiding force of positive market expectation while leaving some leeway, according to Xi.

China's economy expanded by 6.9 percent in the third quarter this year, the lowest quarterly growth in six years. Endi