Investing

China Lowers GDP Growth Expectations

China has set the goal for its economic growth very low compared to what it has been in the past decade — only 7.5% improvement in gross domestic product. The central government of the People’s Republic also stated it wants to drive consumer spending. For years this has been at the core of U.S. GDP expansion.

Among addition efforts, CNN Money reports:

Here are the government’s stated goals for 2013:

  • Gross domestic product growth of 7.5%.
  • Consumer Price Index (CPI) target of 3.5%.
  • A projected deficit of 1.2 trillion yuan ($190.48 billion), 400 billion more than last year and a total of 2% of GDP.
  • Add more than 9 million urban jobs.
  • Keep the registered urban unemployment rate at or below 4.6%.
  • The government will work to ensure that real per capita income for urban and rural residents increases in step with economic growth.
  • China will continue to implement a proactive fiscal policy. The government will give priority to education, medical and health care and social security.
  • China will continue to implement a prudent monetary policy. The target for growth of the broad money supply (M2) is about 13%.

The #1 Thing to Do Before You Claim Social Security (Sponsor)

Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.

A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.

Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.

 

Have questions about retirement or personal finance? Email us at [email protected]!

By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.

By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.