Economy still on track to achieve 2015 growth targets - China’s PM Li

FXStreet (Mumbai) - Speaking at the World Economic Forum (WEF) in Dalian on Thursday, China Premier Li Keqiang noted that growth in China is stabilizing and that the world's second-biggest economy is still on track to achieve growth targets this year.

He played down concerns over the lack of momentum in China's economy recently, saying China had more opportunities than challenges.

Chinese PM further added, new economic growth drivers are emerging, pointing out the service sector, which is helping to offset weakness in other parts of the economy.

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A renewed wave of risk aversion gripped the US markets overnight amid increased uncertainty over Fed’s rate hike timing, thus translating into a lower opening in the Asian markets, reversing Wednesday’s rally.
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Chinese Premier Li’s comments coupled with better China CPI print have failed to lift market sentiment this Asia, with risk-aversion still prevalent as Asian indices continue to tumble. The yen remains better bid while the Antipodeans were heavily dumped amidst reduced appetite for riskier assets.
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