CRI听力:China's 2015 GDP Target Means Healthier Growth: Experts

"I think the GDP target is quite appropriate. Facing the economic downturn, we need to transform our way of thinking. I am still confident in the Chinese economy."

"The GDP target is an ambitious one. Realizing it will require great efforts."

7% as a target is the lowest in a decade. In the past two years, the target was 7.5%.

David Dollar, a Senior Fellow in the China center of the Brookings Institution, perceives the target as something natural and realistic.

"I think Chinese economy is slowing down mainly because investment is slowing down. China went to a period when there is a lot of investment. Capital stock is built up in manufacturing, housing and local government infrastructure, frankly excessive capacity in many parts of the economy. 6%-7% percent is realistic for China at this point."

Professor Liu Baocheng from the University of International Business and Economics also believes that 7% is reasonable.

"People in both the government level, corporate level and individual level will have to accept the fact that China is slowing down to a 'new normal' pace. Therefore, we need to switch gears from the focus of quantitative to qualitative growth. So 7% is not really the bottom line, but rather a benchmark."

Earlier, 29 local governments at the provincial level lowered their 2015 GDP growth targets as compared with previous years.

This has sparked discussions on whether GDP is still an important figure in measuring China's economic growth.
Qian Fangli, an NPC deputy and member of its financial and economic committee, says the answer to that question is "yes."

"Currently, GDP is not the only criteria for measuring the Chinese economy. But this does not mean we should abandon it. For a major developing country like China, we need GDP with proper quantity and speed. The key is whether the GDP growth is substantial, environmental-friendly, sustainable and whether it can lead to a growing gross national happiness."

Despite cutting the GDP target by half a percentage point, the goal for jobs creation in urban areas remain at 10 million, the same as last year.

Dr. Dollar from Brookings Institution says jobs creation is so important in boosting the country's service sector and overhauling the economic structure.

"Service sectors are going well. That is most of the job creation is. So I think it make sense to the government to focus on the job creation at this moment, that means paying more attention to the service sector."

Last year, the Chinese economy grew by 7.4 percent, the weakest annual expansion in 24 years. Several economic indicators at the beginning of the year also suggest economic weakness will be ongoing.

However, just like leading economist Yao Jingyuan said, the Chinese economy is like a marathon, and it can't always run at a sprint. Quality and sustainability speak louder.

For CRI, I am Wang Mengzhen.