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China Will Meet Economic Growth Goal This Year: Vice Premier

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China’s economy faces downward pressure but will be able to meet its economic growth target for the year, China’s vice premier Zhang Gaoli said at a forum in Beijing on Wednesday.

Growth in M2 money supply slowed in April versus March, Zhang said at a meeting on tax administration hosted by the OECD. M2 money supply grew 13.4 percent in March.

China has set a target for 6.5 percent to 7 percent GDP growth in 2016, after growth fell to a 25-year low of 6.9 percent in 2015.

Reuters

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Craig Erlam

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.
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