China is likely to ‘avoid setting 2021 GDP target over debt concerns’ ...Qatar

China will likely avoid setting a 2021 growth target, dropping the closely watched measure for a second straight year on concerns that maintaining one could encourage provincial economies to ramp up debt, policy sources told Reuters. The world’s second-biggest economy eked out 2.3% growth last year despite the ravages of the pandemic that emerged in the central city of Wuhan, and will rebound a sharp 8.4% this year thanks to Beijing’s aggressive Covid-19 response and global recovery, according to a Reuters poll of economists. But policymakers fear that pegging official ambitions to a specific rate of growth could encourage regional governments to pursue even higher growth, in turn prompting

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