China's economy: defining the new normal

Livewire News

Livewire

China's economy: defining the new normal. The annual session of the National People's Congress, China's rubber-stamp parliament, starts today. The highlight of the minutely scripted proceedings will be the work report of the premier, Li Keqiang. Mr Li is likely to flesh out Chinese officialdom's latest economic slogan: the new normal of slower growth and faster reform. Most important, he will disclose the official growth target. Set at 7.5% in recent years, it is expected to be cut to 7%, signalling less emphasis on GDP. That message will be reinforced by commitments to more social spending, notably on health care and education, and by promises to rein in lending to control debt. The government's budget-deficit target is also worth watching. An increase in that, to about 3% of GDP, would indicate that although embracing slightly slower growth, China's authorities want to be sure of avoiding a sharp deceleration.


Livewire News
Livewire News
Livewire

Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.