China’s National People’s Congress annual plenary began today, with soon-to-be-former premier Wen Jiabao outlining the official economic targets for 2013. We’ve written a few posts lately about how China’s growth has become increasingly driven linked to credit and, particularly, fast-growing shadow finance. More recently, there are signs the authorities are feeling less comfortable with letting shadow finance run riot — but at the same time, its role in fuelling growth makes a big or sudden curtailment look unlikely.
The targets announced today added to signs of discomfort with unchecked credit growth, according to various China watchers.
Continue reading: China’s 2013 targets, and what they (probably) mean Reported by FT.com 1 hour ago.
The targets announced today added to signs of discomfort with unchecked credit growth, according to various China watchers.
Continue reading: China’s 2013 targets, and what they (probably) mean Reported by FT.com 1 hour ago.