A piece in the South China Morning Post recapping a speech from Chinese Premier Li Keqiang to the World Economic Forum (WEF), which was posted online last month.
- signalled a higher tolerance for inflation this year
- Li indicated that China’s inflation rate could reach 3.5 per cent this year, a broader range than the target of around 3 per cent proposed by government in March.
- “If we can keep the unemployment rate below 5.5 per cent and the CPI rise stays under 3.5 per cent for the whole year, we can live with a growth rate that is slightly higher or lower than the target, not too low of course,”
More at that link above.
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We had the heads up on this in the back half of July:
China has acknowledged reality and thrown in the towel on its GDP target:
