Chinese Vice Premier Says Rapid Growth Isn’t What Economy Needs

China doesn’t need the rapid economic growth of the past and will instead focus on tasks including returning the blue to Beijing’s skies, Vice Premier Zhang Gaoli told global executives gathered in the city.

“It is both impossible and unnecessary to maintain the very high growth of the past,” said Zhang, a member of the seven-man Politburo Standing Committee, the nation’s top decision-making body. “We’ve paid the price for that,” he said Sunday. “It’s not sustainable.”