China Premier LI says 2015 GDP growth target around 7%

  • 2015 CPI target around 3 pct
  • Sees 2015 budget deficit at 2.3 pct GDP
  • 2015 M2 growth target around 12 pct
  • Says aim to create over 10 million new jobs in 2015
  • Says will keep economic growth within reasonable range
  • Says will deepen reforms of state owned enterprises
  • Will push fiscal, price reforms
  • Will allow more domestic private banks to be set up
  • Says will push forward interest rate reforms
  • To boost domestic consumption
  • Says to stabilise housing consumption
  • Says to ensure unemployment rate does not exceed 4.5 pct in 2015: Xinhua

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  • Says to set up deposit insurance system
  • To keep renminbi at appropriate and balanced level
  • To float yuan more freely
  • Says china to push forward yuan convertibility on capital account
  • Says to quicken cross-border yuan payment system
  • To launch Shenzhen-Kong Kong stock connect pilot at appropriate time
  • To increase international market share for chinese railways, electric power, communications, aircraft
  • Says to broaden use of forex reserve

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From China's finance ministry:

  • China budgets 2015 national fiscal deficit of 1.62 trln yuan
  • China budgets 2015 national fiscal revenue up 7.3 pct
  • China budgets 2015 national fiscal spending up 10.6 pct
  • China fin min says to continue with active fiscal policy in 2015 and appropriately step it up

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Headlines via Reuters