China's NDRC says China can achieve it's annual economic targets
Never mind that the market thinks differently
- NDRC will strengthen policy fine tuning and target adjustments
- Expects growth to keep within a reasonable range and for H2 to be stable
- Says current economic fundamentals are sound
- Economy faces difficulties and challenges
- Downward pressure on economy becomes more obvious
The National Development and Reform Commission with the comments
Staying in China, stock analysts are saying that the "calamitous fall" confirms the failure of the governments ability to prop up the stock market and that todays drop was in part due to disappointment that the PBOC didn't cut the RRR over the weekend. Shanghai was down -8.5% today
