Chinese Leaders Talk Economic Growth, Structural Reforms at National People’s Congress

March 7, 2016 Share Print 0

China’s top brass are pledging reforms and dispelling fears of a hard landing in key national meetings that started over the weekend, underscoring Beijing’s efforts to stabilize market sentiment and assert the Communist Party’s leadership.

On Saturday, premier Li Keqiang announced a growth target of 6.5 to 7 percent this year at the annual National People’s Congress, down from last year’s “about 7 percent” while the head of the National Development and Reform Commission, Xu Shaoshi, said that the country will “absolutely not experience a hard landing”.

The pledges come amid concerns about the state of the world’s second-largest economy and Beijing’s ability to manage its own economic transition, which emerged as key discussion points at the Group of 20 finance ministers and central bankers meetings in Shanghai last month.

CNBC

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Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.