China Premier Li: No Hard Landing Coming

March 16, 2016 Share Print 0

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.

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 SKY News. 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.