Chinese premier Li Keqiang touching on the economy now
- Says that China is fully confident of achieving 2018 economic targets
- Financial sector is in good shape, banks have enough provisions
- China is able to prevent systemic financial risks
- Will gradually lower fiscal deficit ratios in the future
- Local regulators will take resolute measures to tackle financial risks
- Merge of banking, insurance regulators will also help with that
Earlier in the month, Li set out a 6.5% GDP target for China this year. So, that's the magic number.
Meanwhile, the focus continues to be on deleveraging on tackling of financial risks - which will mean slower credit growth. In turn, that will present a challenge for China to attract foreign direct investments.
It's still early in the year, so let's see how things play out as time goes by.
