China’s annual National People’s Congress starts on Saturday. Among the headline announcements are likely to be GDP growth targets for this year and beyond that are unrealistically high and will do nothing for policymaking credibility. More positively, the Ministry of Finance is likely to reveal a looser fiscal stance in the Budget while the new Five-Year Plan should include details of infrastructure investment plans – reminders in both cases that the government has not yet run out of options to support the economy.
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