China Premier Li: No Hard Landing Coming

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

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.