Illustration: Xia Qing/GT

Shen Jianguang, chief economist of JD Finance 

Maintaining growth at 6 percent should not be China's goal in 2020. The country has already adopted some stimulus measures, but the results have been insignificant. Policymakers have paid great attention to maintaining stable economic growth amid the current economic downturn, and have been utilizing countercyclical adjustment. 

Despite this, Chinese economic data still appears weak. But does that mean China's stimulus was ineffective? This is not the case. Without these policies, China's economic growth could have already dropped below 6 percent. 

Once the external environment deteriorates beyond expectations, maintaining a 6 percent economic growth will not only be difficult, but unnecessary. China needs to deepen its reform and opening-up, avoiding the use of strong stimulus.

Next year will be an important year for reform. It will be difficult to maintain short-term, stable growth and promote long-term reform simultaneously. If reforms obtain substantial results, together with medium and long-term benefits - even if economic growth declines to 5 percent - it will be better than 6 percent achieved through heavy stimulus.