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

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.


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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.