Monday, 27 July 2015

China state planner optimistic on economy, watching volatile stock market

China's top economic planner said it was optimistic on the outlook for the economy in the second half of 2015, but was paying close attention to fluctuations in the country's stock markets.
Speaking at a briefing in Beijing on Tuesday, Li Pumin, secretary general of the National Development and Reform Commission(NDRC), described the recent activity in China's stock markets as "abnormal".

Since hitting a peak in early June, China's main indexes have fallen by a third in less than a month before rebounding by a quarter, only to suffer their biggest one-day fall since 2007 on Monday.

For the first six months, China reported a growth rate of 7 percent, in line with Beijing's full-year target. But the stock market slump has fueled concerns about the health of the economy.

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