The Chinese government continues to be steered in a direction of long term stability, as Beijing signals desires to extend a delicate balancing act to sustain economic growth while pushing forward its reform agenda during an annual policy meeting, says Aidan Yao, senior emerging Asia economist at AXA Investment Managers in a research report.
Premier Li Keqiang’s opening speech at the National People’s Congress struck a fine balance between delivering near-term growth and furthering structural reforms. In the year of leadership transition, the emphasis of the Government’s Work Report, as expected, was placed on preserving macro stability and policy continuity. This means that economic policies will not see major shifts, and any changes are likely to be applied in moderation.
As anticipated, the government has lowered its 2017 growth ta...
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