UPWARD AND UNCHANGED

In an interview with Beijing Review reporter Tao Xing, Zhang Yansheng, principal researcher with the China Center for International Economic Exchanges, shared his assessments of China’s macroeconomic landscape. Edited excerpts of his views follow:

Priorities and forecasts

Last year, China’s economic operation achieved relatively high growth with GDP reaching 114 trillion yuan ($17.9 trillion), up 8.1 percent year on year. The progress was largely led by internal momentum, rather than supported by economic stimulus, and this exactly marks the difference between China and other major world economies. For example, U.S. growth was driven by massive fiscal stimulus; China did not apply any such expansionary policy, but opted for a relatively tightening one