Chinese Premier Li Keqiang said economic growth should be maintained at a “reasonable pace,” in the latest hint that the government is ready to reach for stimulus measures if the current slowdown worsens.
With economic indicators showing a soft start to the year for China, economists have said that reaching the government’s growth target of “about 7.5%” is looking doubtful. A series of investment banks have cut their forecasts for China’s economy. Both J.P. Morgan and Bank of America Merrill Lynch now project 7.2% gross domestic product growth this year.
China has the capability and confidence to keep growth at a “reasonable pace,” Mr. Li said in remarks to a meeting of provincial leaders in the northeastern province of Liaoning on Wednesday and that were reported by the official Xinhua News Agency on Friday.
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