China on course to meet annual goals - State Council

|By:, SA News Editor

China's economy is "stable and trending for the better," and has the ability to meet the government's targets this year, the country's State Council said yesterday.

However, the council warned that the foundations of the recovery are "not yet firm," and that the government needs to be "unrelenting" in applying its economic policies and reform.

China's GDP grew 7.8% in Q3, above the annual target of 7.5%.

Meanwhile, China is expected to soon publish details about local government debt, which is estimated at 15-30T yuan ($2.46-4.92T). The central government is considering widening a pilot program that allows municipalities to sell bonds as a way to improve the transparency of their debt.

The Shanghai Composite is +1.6%.

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