In 2014 la China expect to score one GDP growth of 7,5%. This was stated by Chinese premier Li Keqiang, also announcing a 12,2% increase in military spending for this year.
In his speech at the opening of the works in the People's Assembly Hall in Tiananmen Square, Li Keqiang then underlined the importance of economic stability, indicating among the objectives the containment of inflation it's a exchange rate with no major changes for the yuan.
Meanwhile, in February China's services PMI calculated by HSBC, it rose to 51 points, from 50,7 in January. A reading above 50 indicates expansion of activity, while below this threshold it enters the contraction zone.
According to Qu Hongbin, HSBC's chief economist for China, this data "suggests that growth in the services sector appears to be stabilizing at a relatively low level". However, combined with a weak manufacturing PMI, Chinese economic growth "seems to be slowing down: a factor that is beginning to weigh on employment growth".
