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The Australian dollar weakened because of the bigger-than-expected unemployment rate…
China pledges to keep macro-policies firm in 2018
China is on the verge of maintaining macro-policy stability in 2018. The Asian country will also take steps to reduce economic risks. That’s what state radio informed on Wednesday citing Premier Li Keqiang.
The government is going to deepen supply-side reforms by simply eliminating obsolete industrial capacity, as state radio quoted Li.
The Chinese economy found itself on track to meet the government's annual surge objective in 2017, but still facing some uncertainties, as Li told.
In the domestic economy the deep-seated contradictions are still striking, while various risks as well as hidden pitfalls can’t be neglected, Li added.
The Chinese economy has demonstrated better-than-anticipated surge of about 6.9% through the first nine months of 2017 due to firm government infrastructure spending, a sturdy property market as well as suddenly strengthening exports.
The country’s economy managed to ascend 6.7% the previous year, which is the slowest outcome in 26 years.
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On Tuesday, the improved market sentiment supported risky assets such as stocks, emerging-market currencies, and crude oil.
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