Comments from Chinese Premier Li Keqiang to the Communist Party School last Friday, reported by MNI

  • Said an annual 6.53% growth in the next five years until 2020 is needed in order to meet the government's target of building a moderately prosperous society
  • growth cannot return to double-digit rates
  • Government will keep it in a reasonable range
  • Quantitative easing policy can't be used to flood the economy with too much money
  • Repeated that China will not use yuan depreciation to boost exports

MIN warn that the speech is being circulated via WeChat, a Chinese version of Whatsapp and its accuracy could not be verified. The full content of the speech has yet to be published by government media.


ADDED - Comment hitting the Bloomberg now ... as a 'red' headline:

When Bloomberg do a 'red' headline, its 'cause they think its very significant. If Li says 6.53% (instead of the oft-cited 'around 7%) then indeed it is. Should and AUD negative input.