China continues to push for a glide-path, soft landing for the economy.Premier Wen Jiabao cut the country’s growth goal to 7.5% from 8%, according to Shanghai Daily.
According to the same report, coal output is targeted to grow just 3.7% vs. a rise of over 8% last year.
The new CPI target is 4%.
A report form Nomura indicates that this is all within expectations, though perhaps still leaving some room for ‘hot’ inflation in the second half.
Overall, the headlines don’t seem explosive, but they could have an impact on the industrially-sensitive areas of the market.