China planning honcho's comments push stock rally to 5th day
Date
3/7/2016 11:08:14 PM
(MENAFN- Asia Times) Xu Shaoshi
China will absolutely not experience a hard landing” Xu Shaoshi head of the National Development and Reform Commission (NDRC) told reporters at a briefing on Sunday. “These predictions of a hard landing are destined to come to nothing.”
Xu China’s top economic planner also said China’s plans to reduce industrial overcapacity are unlikely to result in large-scale layoffs and that economic growth will create more jobs and help offset the impact of capacity cuts.
He did acknowledge that it will be challenging for China to maintain an economic growth rate of at least 6.5% over the next five years as well as create more jobs and restructuring state-owned enterprises.
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