"Very difficult" for China's economy to grow 6% or faster -Premier Li
(Adds quotes, context)
SHANGHAI, Sept 16 (Reuters) - Chinese Premier Li Keqiang
said it is "very difficult" for China's economy to grow at a
rate of 6% or more because of the high base from which it was
starting and the complicated international backdrop.
The world's No.2 economy faced "certain downward pressure"
due to slowing global growth as well as the rise of
protectionism and unilateralism, Li said in an interview with
Russian media which was published on the Chinese government's
China's gross domestic product (GDP) grew 6.3% in the first
half of the year, and Li said the economy was "generally stable"
in the first eight months of the year.
"For China to maintain growth of 6% or more is very
difficult against the current backdrop of a complicated
international situation and a relatively high base, and this
rate is at the forefront of the world's leading economies," Li
was quoted as saying.
Analysts say China's economic growth has likely cooled
further this quarter from a near 30-year low of 6.2% in
April-June. Morgan Stanley says it is now tracking the lower end
of the government's full-year target range of around 6-6.5%.
In response, the authorities have increased support,
announcing on Sept. 6 a cut in the reserve requirement ratio
(RRR) for the third time this year, releasing 900 billion yuan
($126.35 billion) in liquidity into the economy.
(Reporting by John Ruwitch and Wang Jing;
Editing by Shri Navaratnam and Muralikumar Anantharaman)
First Published: 2019-09-16 02:11:10
Updated 2019-09-16 02:58:20
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