Friday, November 6, 2015

China PM Li reiterates country needs at least 6.5% growth next 5 years

FXStreet (Bali) - China PM Li reiterates that China needs at least 6.5% growth over next 5 years in order to realize the goal of building a moderately prosperous society, reports the People's Daily via MNI.

Key headlines

Says maintaining a medium to high growth rate is a long term task

Says the process of economic rebalancing will be difficult and painful

But said China's new industrialization, urbanization and agriculture modernization had great potential to fuel economic growth

Says China's savings ratio is still very high

There are enough funds in the economy, which would help boost investment

China's infrastructure is still weak

Government will increase investments in railways and highways in central and western China, water projects, public housing and underground pipelines
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