Premier Li Keqiang Says China Will Meet Economic Targets

Chinese Premier Li Keqiang has said China is on track to meet all its economic targets for this year despite fears of a deepening slowdown in the world’s second largest economy.

Speaking at the World Economic Forum in Dalian, Mr Li reassured global business leaders that China’s economy is “shock resistant and resilient”.

He said China was not a source of risk but a source of growth for the world.
His comments come as data showed deflation fears are growing in China.

Inflation figures for August showed that manufacturers in the country often considered the “workshop of the world” cut prices at the fastest pace in six years as commodity prices and demand fell.

The producer price index (PPI) fell a more than expected 5.9% from the same period last year – marking the 42nd consecutive month of declines.

Consumer prices, however, rose 2% in the same period to a one-year high, but the rise was mainly due to higher food prices and not an improvement in economic activity.

via BBC

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