The Business Times

Jobs more important than growth: China minister

Government aims to create 11m jobs this year, he tells NPC

Published Thu, Mar 6, 2014 · 10:00 PM
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[BEIJING] It is all right for China to slightly miss the government's 7.5 per cent economic growth target this year as long as enough jobs are created, the finance minister said yesterday, stressing that a healthy labour market is more important.

Lou Jiwei told a briefing at the National People's Congress (NPC), China's annual parliament meeting, that the government has three broad economic policy goals each year: create jobs, control inflation and boost the economy. He said jobs are the most important of the three.

"Let's say for instance, this year's economic growth is not 7.5 per cent, but 7.3 per cent or 7.2 per cent. Does this count as around 7.5 per cent? Yes, it counts," said Mr Lou. "Whether GDP growth is to the left or to the right of 7.5 per cent, that is not very important. What is important is job creation."

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