China Likely To Avoid Setting 2021 GDP Target Over Debt Concerns, Sources Say

• 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 by a sharp 8.4% this year thanks to Beijing's aggressive COVID-19 response and global recovery, according to a Reuters poll of economists.
• Government advisers who call for scrapping the gross domestic product (GDP) target again this year appear to be gaining the upper hand, while policymakers may again signal a goal implicitly by targeting employment and other indicators, said the sources, who asked not to be identified because the discussions are confidential.

(Source: Reuters)