Economic analysts predicted that Chinese policymakers will not push next year's targets too much and instead focus on goals that will improve the economy. They are also expected to show more tolerance despite potentially slower growth in 2020.
According to China Daily, most economists are expecting Beijing officials who will meet at the annual Central Economic Work Conference later this month to focus on targets leaning towards quality growth over higher gross domestic product (GDP).
While other countries are expected to ramp up efforts in pushing for higher GDP, China is expected to lay low on this aspect and capitalize on 2020 targets that will bring about long-term and high-quality economic development.
Slower growth over the past months has led some analysts to believe that China will keep easing on policies to curb the impact of the trade war. However, last week's statement from the Political Bureau of the Communist Party of China Central Committee suggested that the government is leaning on long-term instead of short-term growth strategies.
The statement noted that the Chinese economy's trend has been on long-term perspectives and it remains despite growing fears about the country's ability in bouncing back like it did in the past.
For some analysts, further easing will only have short-term effects and China has what it takes to be more flexible and not keep touching interest rates. For China economist at Bloomberg Economics, Qu Tianshi, a GDP growth rate that goes below six percent is okay.
Qu explained that the country still has the power to achieve great things even with slower growth or a lower GDP. "The speed is still much faster than the average level of the world's major economies," he argued.
Other economic experts echoed Qu's statements, urging the government to not be too quick on making major stimulus moves for the next months. The former chief executive of China International Capital Corporation, Levin Zhu Yunlai explained that "short-term problems" are not really hard to fix, the South China Morning Post reported.
Zhu further explained that while problems will keep popping up, the Chinese economy will get back to its usual run as the month's pass. For now, analysts believe Beijing should stay calm and push for domestic reforms to boost the economy.
Chinese President Xi Jinping already said last week that the the government will continue to work on keeping the country's GDP "within a reasonable range" for the coming year.
It remains to be seen whether this month's meeting will end in major the stimulus to boost growth, but most analysts believe reforms will be the the first step forward before another easing in policy is rolled out.
