Chinese Premier Li has been commenting after the latest 5-Year plan
"Our country's development faces more and greater difficulties ... so we must be prepared for a tough battle"
Ryan had the draft plan here and from what I've glanced at there's little more of note to add, so here's the list again in case you missed it:
- GDP range 2016 6.5% - 7.0%
- Will aim to keep 2016-2020 GDP at least 6.5%
- Aims to maintain medium to high speed growth 2016-2020
- GDP growth target to ensure sufficient employment
- Expects 2016 CPI of 3.0%. Sets CPI target at 3.0%
- Wants to add 50m jobs over 5 years (while they try to cut 5/6m over 3 years??)
- Raises 2016 budget deficit to 3% of GDP
- Expects retail sales growth of 11% in 2016
- Fiscal revenue to rise 3.0% y/y in 2016
- Expects fixed-asset investment growth of 10.5% in 2016
- China faces more difficulty this year
- Will keep yuan rate at reasonable balanced level
- Will continue to promote bond and stock market reform
Reuters has more here
I need to head out now. Football beckons. Have a great week-end one and all and thanks again for your wonderful support and input.
Chinese Premier Li- Tough battle ahead