THE country can achieve a goal of doubling the size of its economy by 2020 even if annual expansion slows to 6.3 percent, according to a senior official, signaling a greater willingness to tackle debt and pollution at the expense of growth.

In its blueprint for 2016 to 2020, China set a minimum annual growth target of 6.5 percent for the five-year period to achieve the goal of doubling gross domestic product (GDP) from 2010 levels. But Yang Weimin, an official from the Party committee overseeing economic policy, has said annualized growth of 6.3 percent in 2018-2020 would do.

Based on current economic performance, the 2020 target won’t be a “huge barrier,” Xinhua quoted Yang, deputy head of the Office of the Central Leading Group on Financial and Economic Affairs, as saying. China is seen growing 6.8 percent this year and 6.5 percent in 2018, according to economist estimates.

Yang dismissed the notion that China would abandon a growth target before 2020 while investment banks including UBS Group AG see China potentially giving a 2018 target that is worded similar to this year’s “around 6.5 percent” but without language that it should be higher if possible.

GDP will reach 80 trillion yuan (US$12.2 trillion) by the year-end, Han Wenxiu, deputy head of the State Council research office, said in a recent article in the Economic Daily. The economy only needs to grow by 6.3 percent a year and residential income by 5.3 percent to reach the targets of doubling 2020 GDP and per capita income from 2010 levels, he said.(SD-Agencies)