> China says economy is 'stable and progressing', will reach growth target / 36JH3ME
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China says economy is 'stable and progressing', will reach growth target / 36JH3ME
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The National Development and Reform Commission (NDRC), China's top economic planner, has reiterated the organisation's faith in the country's growth path, saying that it was "stable and progressing". NDRC's chairman Zheng Shanjie said in a press conference that Beijing's top political leadership had "fully demonstrated its determination and confidence in promoting a sustained economic upturn" but releasing a recent raft of stimulus plans.
Beijing has struggled to reignite business activity as officials target around five percent expansion, which analysts say is optimistic given the numerous headwinds, from a prolonged housing crisis to sluggish consumption and local government debt. IMAGES AND SOUNDBITES