China needs an annualized growth of 6.3 per cent in 2018-2020 to realize the target of doubling Gross Domestic Product (GDP) by 2020. GDP expanded 6.9 per cent year on year in the first three quarters of 2017, above the target of around 6.5 per cent for the whole year.

Five years ago, China decided to double GDP and per capita income by 2020 as an important component of becoming a moderately prosperous society in all respects.

Judging from current economic performance, no huge barriers in meeting the goal are expected.

However China's emphasis is on development quality rather than fast expansion. High quality development is the fundamental requirement for determining the development path, making economic policies and conducting macroeconomic regulation.

Realizing high quality development is a must for sustaining healthy economic development and adapting to the country's new principal contradiction between unbalanced and inadequate development and the people's ever growing needs for a better life.

The potential growth rate has changed due to upgraded consumption, financial risk and environmental constraints.

The country is building and improving mechanisms for pushing forward high quality development, including indicators, policies, standards, statistical and performance assessment systems.

China’s economy held steady in the first eleven months of 2017.