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.
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