Reuters reports that China Premier Li says China 2021 CPI target is around 3% and targets 2021 GDP growth of above 6% with more efforts on reform, innovation and high-quality development, according to a government work report submitted Friday to the national legislature for deliberation.
Additional comments
Li says China will continue to fully and faithfully implement "one country, two systems".
Li says China will promote the growth of mutually-beneficial economic and trade relations with the united states on the basis of equality and mutual respect.
Li says China will improve systems and mechanisms relating to implementing the constitution and the basic laws in its special administrative regions.
Li says will ensure the implementation of the law and enforcement mechanisms for hong kong to safeguard national security.
Li says will resolutely guard against and deter external forces interference in hong kong affairs.
Li says will make prudent monetary policy flexible, targeted and appropriate.
Li says will keep money supply, total social financing growth largely in line with nominal economic growth.
Li says will keep macro leverage ratio basically stable.
Li says will keep yuan exchange rate basically stable.
Li says will keep liquidity reasonably ample.
Li says aims to keep survey-based urban unemployment rate at around 5.5%.
Li says aims to create more than 11 mln urban jobs in 2021.
Li says will keep economic operations within reasonable range.
Li says will maintain continuity, stability and sustainability of macro policies.
Li says macro policies will continue to relief difficulties for market entities, maintain necessary support.
Li says there will be no sudden turn in macro policies.
Li says macro policies will make timely adjustments based on changes in economic situation.
Market implications
The world is looking to China for the growth story to compliment the recent developments in the bond market pertaining to the Federal Reserve's lower for longer approach.
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