What is it the kids say? “It’s all good!”
Seems to be the message from the National Development and Reform Commission of the People’s Republic of China (NDRC) … i.e. the ‘state planner’
I guess the takeaway from this is to expect a lowering of the GDP target ahead. For this year its set at 6 to 6.5% …. an it looks like it’ll come in down the bottom of that range.
For next year, its reasonable to expect the target to be lower again. Not because because the NDRC tells us, but as the eco0nomy gets bigger the rate of growth will slow.
Anyway, arguments abound about how accurate the Chinese data is. Those won’t stop any time soon.