23 July 2013 07:32

China Premier Says Growth Must Stay Above 7%

China_L

China's economic growth must be kept above 7% as that is the bottom line of the government's tolerance, Premier Li Keqiang said in comments reported by a state newspaper Tuesday.

The Beijing News cited the premier as telling a State Council meeting last week that economic growth can't be allowed to slip below the 7% level as that will help the government reach it's official target of doubling the size of the economy this decade.

Mr. Li also told the meeting that a "reasonable" growth target of 7.5% was set with maintaining labor market stability in mind. He added that the government's tolerance for consumer inflation was 3.5%, according to the report.

China set a growth target of 7.5% for 2013 at the annual session of the National People's Congress, the nation's legislature, in March.

A 7% growth rate for the year would be the lowest since 1990, and would imply a drop in growth to below 7% in the second half of the year. Economic growth in the second quarter was 7.5% year-on-year after an expansion of 7.7% in the first quarter.

The government has refused to step in and use a big increase in fiscal spending to support a slowing economy, leading many analysts to slash their growth forecasts for this year to below 7.5%.

The premier had been cited earlier as saying that there was a lower limit to growth and an upper limit to inflation in the government's planning. The official reports did not give precise figures, however.

"As long as the economic growth rate, employment and other indicators don't slip below our lower limit and inflation doesn't exceed our upper limit (we'll) focus on restructuring and pushing reforms," Mr. Li said in a statement posted on the central government website on July 10.

"Stable growth can create the room and conditions for structural reform and structural reform can give momentum to (future) economic development," he told a meeting with local government leaders.

On Sunday, the official Xinhua News Agency weighed on the debate on the government's willingness to tolerate a slowing economy.

GDP growth will need to average 6.9% per year between now and 2020 to meet the official target of doubling the size of the economy this decade, Xinhua said, arguing that the 7% mark is effectively a floor on growth.

Write to djnews.beijing@dowjones.com

 

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

July 23, 2013 00:55 ET (04:55 GMT)

Copyright (c) 2013 Dow Jones & Company, Inc.

 

Comments

#1 | Saturday 4 Jan (23:25)
This is an excellent post I seen thanks to share it. It is really what I wanted to see hope in future you will continue for sharing such a excellent post. iphone 5 slim hard case

#2 | Tuesday 7 Jan (12:54)
Should there be another persuasive post you can share next time, I’ll be surely waiting for it. https://www.rebelmouse.com/textyourexback/

#3 | Tuesday 7 Jan (13:49)
What a great blog, thank you for letting me comment on it. รับทำ SEO ราคาถูก

#4 | Wednesday 8 Jan (13:54)
I also benefit from learning the assessments, but learn that alot of people ought to stay on essay to try and add worth in the direction of the authentic weblog release.
Black bachelorette party
#5 | Thursday 9 Jan (07:51)
his is my first time i visit here. I found so many entertaining stuff in your blog, especially its discussion. From the tons of comments on your articles, I guess I am not the only one having all the leisure here! Keep up the excellent work. best wedding program wording

#6 | Friday 10 Jan (13:41)
Hi I found your site by mistake when i was searching yahoo for this acne issue, I must say your site is really helpful I also love the design, its amazing!. I don’t have the time at the moment to fully read your site but I have bookmarked it and also add your RSS feeds. I will be back in a day or two. thanks for a great site. vegas online casinos

#7 | Saturday 11 Jan (13:22)
I would love to stop by. But, I think it might have to wait until this summer. I did not know that Serlkay had ever expanded its size. I must say that a succesful family owned business in this day and age is a very refreshing sight! As well as this is a very refreshing site!
http://ge.tt/3xVwVID1/v/0
#8 | Saturday 11 Jan (20:34)
I would also motivate just about every person to save this web page for any favorite assistance to assist posted the appearance. best seo article writing services

#9 | Tuesday 14 Jan (00:55)
I thought it was going to be some boring old post, but it really compensated for my time. I will post a link to this page on my blog. I am sure my visitors will find that very useful. Data Center

#10 | Thursday 16 Jan (06:04)
The Beijing News cited the premier as telling a State Council meeting last week that economic growth can't be allowed to slip below the 7% level as that will help the government reach it's official target of doubling the size of the economy this decade. porsche floor mats

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
13 Dec
FING-B
Hvem tør efterhånden investere på børsen, med dette ufatteligt ødelæggende shorting og naked-short v..
34
10 Dec
VWS
Der er simpelhen så meget støj i marked omkring Vestas. Prøv at vurdere disse få tal, og din beslutn..
26
14 Dec
VELO
Faldt lige over denne artikel, som er frigivet 20/11 2017.... Asertaa-studiet med dens konklusioner ..
21
14 Dec
VWS
Citat: »Vores ordreindgang voksede 50 pct. i det seneste kvartal. Der er intet galt med vores salg, ..
18
10 Dec
VELO
  @djks Tak for dine altid velovervejede indlæg, som er af stor betydning for debatten, idet man som..
18
12 Dec
BAVA
Prøver du at dække dig ind under Bavarian for at undgå at vi snakker om dine enorme tab i Matas og R..
17
10 Dec
NOVO-B
En julehilsen fra alpehue, og  et "Olympic" tillykke til Novo, dens aktionærer og verdens diabetespa..
17
13 Dec
GEN
Han har ingen model. Det er noget han altid skriver. Det er som i SKAT - der mangler ikke folk i Ska..
15
15 Dec
VELO
Når vi taler om Veloxis/Envarsus potentiale taler vi typisk om lever- og nyretransplantantioner.... ..
14
12 Dec
GEN
Minder lige om denne fra d. 21.11.2017:http://medwatch.dk/Medicinal___Biotek/article10047753.ece   "..
14

Alliance Trust PLC : Net Asset Value(s)

15/12/2017 13:51:58
ALLIANCE TRUST PLC                                    At the close of business on Thursday 14 December 2017: The Company's NAV per ordinary share, valued on a bid price basis with Debt at Par, was -       excluding income, 780.8p -       including income, 784.2p  The Company's NAV per ordinary share, valued on a bid price basis with Debt at Fair Value, was -       excluding i..

Dimensional Fund Advisors Ltd. : Form 8.3 - Tesco Plc - Ordinary shares

15/12/2017 10:57:00
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Full name of discloser:   Dimensional Fund Advisors Ltd. ("Dimensional"), in its capacity ..

Alliance Trust PLC : Transaction in Own Shares

Related news
15/12/2017 07:00:16
15 December 2017  Alliance Trust PLC TRANSACTION IN OWN SHARES  The Board of Alliance Trust PLC ("the Company") announces that on 14 December 2017 the Company purchased for cancellation 184,000 ordinary shares of 2.5p each at a price of 737.0383p per share.  Therefore, the total number of voting rights in the Company is now 347,592,156.    The above figure (347,592,156) may be used by sha..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Tzadik Management Announces $64.5 Million Refinancing of 6-Property Portfolio
2
2050 Motors Proceeds One Step Closer To The USA Assembly Of The All Carbon Fiber Body Electric Automobile
3
Bryn Mawr Trust Expands Management Team by Appointing Kevin Tylus As President of Bryn Mawr Trust Banking Division
4
FIAT CHRYSLER AUTOMOBILES N.V.: Fitch raises its rating on FCA N.V. and maintains the Positive Outlook
5
Grenville Strategic Royalty Announces Investment in Boardwalktech, Pioneer in Enterprise Blockchain

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2017   Disclaimer and Terms of Use
Quote information is delivered by Morningstar.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
16 December 2017 07:16:02
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20171124.1 - EUROWEB5 - 2017-12-16 08:16:02 - 2017-12-16 07:16:02 - 1000 - Website: OKAY