Nikkei Asian Review report
This is within expectations but the market would like it a lot more of if it's above 6% than below:
China looks to set an economic growth target of "around 6%" for 2020, down from this year's goal of "6% to 6.5%," as the trade war with the U.S. continues to weigh on the country, Nikkei has learned.
...
"The economy is showing signs of stability at this point, such as recovering sentiment in the manufacturing sector, so it was concluded that growth of 6% or so could also be expected in 2020," a source said.
Economists expect growth at 6.1% this year and 5.9% next year.
The report says officials considered a target as low as 5.5%-6.0% but opted against it after recent economic indicators improved.
There's also a small hint about looser monetary policy, something that's expected.
The section on monetary policy said it should be "flexible and appropriate," dropping language from last year that referred to "maintaining an appropriate balance between tightness and looseness."
This report isn't getting much attention but it's a great sign for growth for China and global growth.
The document stressed the importance of stability to achieving the party's goals, suggesting that Beijing is likely to shelve structural reforms that could cause even temporary economic pain.
