Chinese growth rate of 6.5% ‘very difficult’ to achieve to 2020
BEIJING — A state adviser for China, which published worrying inflation data at the weekend, has said it expects to face great difficulty in achieving economic growth above 6.5% over the 2016-20 period, due to slowing global demand and rising labour costs at home.China’s consumer inflation barely edged up in December while companies’ factory-gate prices continued to fall, data released on Saturday showed, adding to concern about growing deflation risks in the world’s second-largest economy.In line with sluggish activity, China’s consumer inflation quickened slightly to 1.6% year-on-year in December, as expected, compared with 1.5% the previous month.The producer price index was unchanged at -5.9% in December, the National Bureau of Statistics said on Saturday, slightly above forecasts but marking a 46th straight month of declines and highlighting the deeply entrenched pressures facing China’s manufacturers as the economy cools."The inflation profile remains soft and the continuous P...
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