China’s GDP growth targets should be scrapped to help put cap on local government debt, top central bank adviser says

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[unable to retrieve full-text content]China should permanently stop setting annual economic growth targets, as its overall level of borrowing and debt is rising at the fastest rate since 2009, following the global financial crisis, according to a senior adviser to the country’s central bank.Ma Jun, a member of the monetary policy committee of the People’s Bank of China (PBOC) and its former chief economist, has outlined a number of risks facing the Chinese economy. He warned that continuing to set gross domestic product (GDP)…

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