FXStreet (Bali) – China PM Li reiterates that China needs at least 6.5% growth over next 5 years in order to realize the goal of building a moderately prosperous society, reports the People’s Daily via MNI.
Key headlines
Says maintaining a medium to high growth rate is a long term task
Says the process of economic rebalancing will be difficult and painful
But said China’s new industrialization, urbanization and agriculture modernization had great potential to fuel economic growth
Says China’s savings ratio is still very high
There are enough funds in the economy, which would help boost investment
China’s infrastructure is still weak
Government will increase investments in railways and highways in central and western China, water projects, public housing and underground pipelines
(Market News Provided by FXstreet)