China: Where 7.5% can be 7.2% or 7.3%

|By:, SA News Editor

China's Finance Minister Lou Jiwei has said that the country's 2014 GDP growth goal of 7.5% is not a cast iron target.

"Let's say for instance, this year's economic growth is not 7.5%, but 7.3% or 7.2%. Does this count as around 7.5%? Yes, it counts," said Lou.

"Whether GDP growth is to the left or to the right of 7.5%, that is not very important. What is important is job creation," Lou added.

The government aims to create 11M jobs this year.

"This flexibility allows them to flag an encouraging number to the business community but at the same time to feel free not to react with stimulus and more debt if it's missed a bit," says Credit Agricole economist Dariusz Kowalczyk.

ETFs: FXI, PGJ, GXC, FXP, YINN, CYB, HAO, KWEB, CNY, ASHR, CHIQ, DSUM, TAO, CHIX, YANG, CQQQ, MCHI, PEK, QQQC, XPP, YAO, CHXX, FXCH, CHII, CHXF, YXI, ECNS, CHIM, CHIE, KFYP, FCA, TCHI, CHLC, CHNA, KBA