Lin Yifu, head of Peking University's Institute of New Structural Economics and one of China's most prominent economists, predicted that China's economic growth rate this year could exceed 5%, with potential growth reaching as high as 8%. This has drawn attention as it far surpasses the government's official target of 4.5%–5%, the lowest growth target in 33 years.
At a recent session of the "Linza No. 7 Salon" held at the Beijing International Club in Beijing, Lin stressed that "the 4.5%–5% target this year is merely a minimum target," adding that "as long as no major shock occurs, China has the potential to achieve growth beyond that." Lin is widely regarded as a leading reformist economist known for his optimistic outlook on the Chinese economy. He is famous for his remarkable career trajectory — from a Taiwanese military officer who defected to the mainland to serving as Senior Vice President of the World Bank. He served as a counselor to China's State Council from 2013 to 2023 and has continued to provide policy advice to the Chinese government.
