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Monday, March 06, 2017

China Lowers 2017 GDP Growth Target

According to the Financial Times article, "China targets economic growth of around 6.5 per cent," China lowered its annual economic growth target to "around” 6.5%, compared to last year's target range of 6.5% to 7%.

Do you believe these numbers?

This lower target was announced "on Sunday morning by Premier Li Keqiang in his annual “work report” to China’s parliament, the National People’s Congress. "

Other comments in the article of note:
  • "Reflecting Beijing’s caution, Mr Li said the government’s fiscal deficit target would remain unchanged at three per cent of GDP; last year it came in at 3.8%."
  • "Retails sales growth is also expected to moderate slightly to ten per cent this year."
  • "In his work report, Mr Li also predicted that fixed asset investment, a key driver for the world’s second-largest economy, would increase nine per cent. Fixed-asset investment grew only 8.1 per cent last year, below the government’s initial target of 10.5 per cent."
Note: You may have to enter "China targets economic growth of around 6.5 per cent" into a Google search window to get a direct link to the article.  

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