Marketmind: China takes five

"Fair enough I suppose" seems to be markets' response to China's comparatively-modest 5 per cent 2023 growth target announced on Sunday.

This year's growth target of around 5 per cent was at the low end of expectations, as policy sources had recently told Reuters a range as high as 6 per cent could be set. It is also below last year's target of around 5.5 per cent, though up from last year's actual 3 per cent figure. "Overall, the government realises the strength and weaknesses faced by the economy. It is not overly optimistic and does not spend too much to boost growth. It focuses more on longer-term growth challenges," said ING's chief economist for Greater China Iris Pang.On the subject of investors looking for good news, U.S. treasury yields are down for a second session in a row, with the benchmark 10-year yield at 3.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Biden expected to tighten rules on US investment in ChinaWILMINGTON, Delaware: The Biden administration is close to tightening rules on some overseas investments by US companies in an effort to limit China's ability to acquire technologies that could improve its military prowess, according to a US official familiar with the deliberations. The soon-to-be-iss
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »