China: Focus falls on weak economy

CHINA’S slowing economy will be at the fore as parliament convenes for its annual meeting, with a weekend interest rate cut a reminder of the challenge of balancing restructuring with combating deflation. Senior leaders at the National People’s Congress, which opens on Thursday, will send an unambiguous signal about the extent of the slowdown when they cut this year’s gross domestic product growth target to 7 percent, which would be the lowest growth in 25 years. “The focus will be on state-owned enterprise, price and fiscal reforms,” said Wang Jun, an economist at think-tank China Centre for International Economic Exchanges. – Reuters