China finds it hard to reach 6.5% growth target
The data showed that the country’s economy made a good start to the new year with a rebound in private investment, which was attributed to a better economic environment as well as a policy support. However, analysts argue that the country’s economy heavily relies on credits, which increases the possibility of a financial crisis in the future.
The Premier of the country himself underlined the importance of taking the domestic risks they are facing in the financial sector seriously, which was also reflected in their cutting the growth target for 2017 to 6.5% from the 6.5-7% growth target in 2016. After China’s economy grew by 6.7% in 2016, the Premier defined a growth of 6.5% for 2017 as “not easy to meet”.
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