The prospects for China’s economy were positive even though the world’s second largest economy continued to experience downward pressure, Chinese Premier Li Keqiang said on Wednesday.
At a meeting of company executives at the World Economic Forum (WEF) in the northeastern port city of Dalian, Li said China would maintain basic policy direction but get prepared to make pre-emptive adjustments.
“We won’t be swayed by short term economic fluctuations in our big picture direction,” said Li.
Li said the creation of over 7 million new urban jobs and keeping unemployment rate at 5.1 percent in the first half of this year showed China’s economy was on “reasonable track”.
via Reuters
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.