China reduces its growth forecast for 2017 to 6.5%, a 25-year low
The Dollar Business Bureau China on Sunday cut its growth target to 6.5% this year - a 25-year low - as the country drives through some painful reforms in order to address its debt concerns and seeks to control risks in the financial sector. China is aiming to expand the economy by about 6.5% in 2017, said Premier Li Keqiang, while speaking at the opening of yearly meeting of the Parliament. The world’s second largest economy had targeted growth of 6.5-7% last year but finally achieved 6.7%, which was the slowest in the past 26 years. A lending spree and raised government spending have led to worries among the top leadership of the country about increased debt levels and the overheating housing sector. This year’s ...
China adopts new 5-yr plan aimed at halting economic slowdown
The law stipulates how charities should be registered, giving approved charities more freedom in their operations. Currently, only a few charities are allowed to raise money Source: PTI By 2020, the size of China's economy is expected to exceed 90 trillion yuan ($13.8 trillion) compared with 67.7 trillion yuan in 2015, according to the plan In a bid to halt the continued economic slowdown, China's parliament on Wednesday approved a new five-year plan, laying out the economic and social development blueprint that sets a target of an average annual economic growth of above 6.5%. A total of 2,778 lawmakers or 97.27% voted for the plan at the closing meeting of the annual session of the National People's Congress (NPC) which had the reputation ...
China to invest $1 trillion abroad in next 5 years
Source: PTI China is ramping up its strategy to halt the slowdown of its economy which is hovering around 7% China is likely to invest over $1 trillion overseas and import $10 trillion commodities over the next five years, Premier Li Keqiang has said as the world's second largest economy looks to invest its record $3.50 trillion forex reserves abroad to utilise it to spur growth. Although China's economic growth has slowed, growth volume is increasing annually; Li spoke at an economic and trade forum of China and Central and Eastern European countries in Suzhou, Jiangsu province on Tuesday. He said that as long as China's annual economic growth remains above 6.5% in the next few years, it can get ...
