Xi's report card: Has met China economic goals but can he keep it going?

As Chinese President Xi Jinping prepares to consolidate his power for a second five-year term at the 19th Communist Party Congress, beginning on Oct. 18, he can point to another impressive period of growth for the nation's economy.

While the turbocharged days of double-digit annual expansion achieved in previous decades may be over, the Chinese economy still managed to expand more than 50 percent in yuan terms in the five years to the middle of 2017. Real gross domestic product has clocked an annual growth rate of 7.2 percent over that period.

The question he will need to address in the next five years is was this growth achieved on a sustainable basis or was it too reliant on surging housing prices and massive levels of borrowing.

Two years ago, President Xi affirmed targets set in 2012 to double GDP and per capita income by 2020, and growth is on target to hit those goals.

The leadership has also vowed to rein in a rapid buildup in debt, and to shift the focus of the economy to domestic consumption from capital investment to put growth on a more sustainable long-term footing and avoid a painful adjustment later.
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