China abandons growth target as mortgage strike runs wild

It’s all over for 5.5% growth:

China will keep its economic policy vigorous, targeted, reasonable and appropriate and will not introduce super stimulus measures and monetary easing to achieve “excessively higher” growth target, said Chinese Premier Li Keqiang on Wednesday.

The country will maintain consistence of the macro economic policy and continue to help market entities to address difficulties in a bid to keep the foundation of the economic development intact, said Li at the World Economic Forum Special Virtual Dialogue with Global Business Leaders.

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