• Analytics
  • News and Tools
  • Market News
  • China: Job creation will be prioritised over achieving a specific growth target – Standard Chartered
Market News
22.05.2020, 09:58

China: Job creation will be prioritised over achieving a specific growth target – Standard Chartered

FXStreet reports that government drops explicit GDP growth target, but budget implies nominal growth of around 5%, economists at Standard Chartered Bank apprise. The yuan might depreciate if US-China tensions persist, according to TD Securities.

“Addressing the representatives, Premier Li Keqiang said no specific growth target would be set for 2020 due to substantial uncertainty about the global pandemic and other contingencies. However, the budget numbers indicate nominal growth of c.5% in 2020.” 

“Protecting employment and livelihood has been put forward as a top priority, with a commitment to create 9mn new urban jobs and to keep the survey-based unemployment rate from rising above 6%.”

“The government set the CPI target at 3.5%, versus 3% last year. The current trajectory suggests annual average CPI inflation may fall below 3% this year; we do not expect the inflation target to constrain the implementation of more expansionary macro policy.”

“We estimate the broad budget deficit to be as wide as 11% of GDP.”

© 2000-2020. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Feedback
Live Chat E-mail
Up
Choose your language / location