China expects to meet 2017 GDP target of 6.5%

China expects to meet 2017 GDP target of 6.5%

So says China's NDRC head at the Communist Party Congress 21 Oct

  • striving for GDP over 6.5% this year
  • will stick to steel capacity cut mission this year
  • will prevent the return of illegal steel plants to market
  • China to open its economy wider to foreign capital
  • unchanged stance on supporting outbound investment

Optimistic tones out of China given recent upbeat data. Economists believe China's actual growth should easily beat the target. The economy grew 6.8% Q3 and 6.9% in H1.Last year's growth rate of 6.7% was a 26-year low.
"All good eh ?" " Yep, just as long as these bamboo shoots are still growing too"
Original Article