According to World Bank president Jim Yong Kim, China is likely to achieve its growth target of 7.5% this year despite planned structural reforms to rebalance the world's second-largest economy. We think the growth will be at about 7.5%, Kim told a press conference in Shanghai on Sunday. This conclusion is based on better-than-expected data from China this month, including strong exports and industrial output which indicated a pick-up in the domestic economy. Despite the notable slowdown in growth, Chinese authorities have been reluctant to introduce large-scale stimulus measures. Instead, the government has pledged to push forward structural reforms to shift the economy from dependence on big-ticket investments and more towards consumer demand as the key growth engine. (VIEW LINK)
Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.
No areas of expertise