Monday 25 March 2019
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business-standard - 10 days ago

China Market gains 1.04%

Investors chased for value buying as Premier Li Keqiang pledged not to let economic growth fall below a reasonable range. China will not let economic growth slip out of a reasonable range amid downward pressure on its economy, Li said on Friday at a press conference marking the end of the annual meeting of the National People s Congress. The Chinese premier pledged strong measures to support growth, saying that the government could use tools such as reserve requirements and interest rates. Li added that China would cut value-added tax (VAT) for manufacturing and other sectors on April 1 and social security fees from May 1. Li s comments at the close of the annual parliament meeting came a day after China lowered its growth target to 6 to 6.5 percent for 2019, down from around 6.5 percent last year.


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