China: 2019 focus on ‘keeping reasonable growth – Standard Chartered
Analysts at Standard Chartered, points out that according to the recently concluded post-Central Economic Work Conference (CEWC) statement of China, the key economic objective for 2019 is to maintain growth within a reasonable range through more proactive fiscal policy and prudent monetary policy.
“We think this means China will set a GDP growth target range of 6-6.5% for 2019, versus a target of around 6.5% for 2018. We maintain our GDP growth forecast at 6.4% in 2019, above the consensus forecast of 6.2%.”
“China also pledged to foster a fair competition environment and support growth for SMEs. It will push ahead with SOE, fiscal, financial, land, market access and social management reforms. Policy makers reiterated the drive to pursue high-quality development, continue supply-side reforms and fight against major risks, poverty and pollution.”