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Top planner warns of economic challenges

Updated: Aug 31,2016 5:33 PM     Xinhua

BEIJING — China’s top economic planner warned on Aug 31 that challenges remain in investment and trade, and meeting annual growth targets will require “arduous efforts.”

It is estimated that pressure will still remain in economic development in the second half of 2016, said Xu Shaoshi, chairman of the National Development and Reform Commission, during its ongoing bimonthly session.

While delivering a report to the session, Xu expressed confidence that the country could meet major annual targets in economic growth, employment, commodity prices and residents’ income.

He also said it was expected that targets for poverty reduction, energy consumption, environmental protection and shantytown renovation would be met.

“Great difficulties remain in meeting goals for investment and trade,” Xu said, elaborating on a national economic and social development report.

“Currently, the foundations for stable economic development are not solid enough and downward pressure remains large, with difficulties hard to underestimate.”