In the Wall Street Journal overnight, comments from Li Daokui, professor at Tsinghua University’s School of Economics and Management and a former adviser to the People’s Bank of China, speaking at a Ministry of Foreign Affairs briefing for journalists:
- 7.0% growth is a “reasonable target” for China this year
- Believes growth is now nearing its low point
- Expects growth rates to pick up within a year or two“I believe we’re now at the bottom of a u-shape”
- His forecast was for 7.2% year-over-year annual growth in 2015, rising to 7.5% by 2017 or 2018
And, he added:
- He expects the yuan’s daily foreign-exchange band to be widened when conditions are right
