Chinese Premier Li Keqiang expressed confidence in the outlook for the world’s second-largest economy on Wednesday, assuring there would be no hard landing as long as reforms continue.
Speaking at a lengthy news conference at the end of China’s National People’s Congress (NPC), an annual meeting of parliament, Li said supply-side reforms would unleash fresh growth drivers.
China has identified supply-side policies as a key pillar of its strategy to revive growth, which fell toa 25-year low in 2015, and arrest excess capacity in sectors including steel. The actions, aimed at improving productivity, include the long-awaited restructuring of state-owned enterprises (SOEs), cutting red tape and strengthening financial regulation.
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Craig Erlam
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