China stagflation strikes, Ratings Jugal Kishore Sharma A.      ECONOMIC OBJECTIVE AND KEY POLICY COMMITMENTS  Economic Objective China’s medium and long-term development goal is to maintain the sustainable and healthy development of the economy, transform the economic development pattern, double its GDP and per capita income for urban and rural residents by 2020 from its 2010 level based on much more balanced, coordinated and sustainable development; build an innovative economy with considerable increase of scientific and technology's contribution to economic growth; basically accomplish industrialization, significantly expand IT application, markedly improve the quality of urbanization, notablely modernize the agriculture industry and effectively