China to host key meeting to discuss economy

(MENAFN- Arab News) BEIJING: China's ruling Communist Party will meet in October to discuss economic development and the next five-year plan state media said as the government seeks ways to boost an economy that is expected to post its weakest growth in a quarter century.
The decision was made after a meeting of the Politburo one of the party's elite ruling bodies chaired by President Xi Jinping Xinhua news agency said. It provided no other details.
Such meetings formally called plenums are typically held once a year and tend to map out key policies for the years ahead.
Last year's plenum focused on the rule of law while at the one in 2013 Xi announced ambitious economic reforms that signalled a shift of China's economy from infrastructure- and export-fueled growth toward a slower more balanced and sustained expansion.
China's 13th five-year-plan will be an important document that outlines national priorities and sets targets for economic and social development.
The government expects the economy to grow by 7 percent this year which would be the weakest rate in 25 years.
Having posted 7 percent annual growth in the second quarter the economy is still facing significant downward pressure.
and analysts said they expected the government to roll out further stimulus.