China’s broadest economic reforms since the 1990s will add less than half a percentage point to annual growth this decade, a survey showed, underscoring the likelihood of a cut in the nation’s expansion target.
Goldman Sachs Group Inc. has dropped forecasts for the benchmark interest rate of China’s central bank from its annual outlook, while Societe Generale SA bemoans the “guesswork” behind tracking the nation’s shifting targets.
China’s stocks rose, sending the benchmark index to a one-month high, as Anhui Conch Cement Co. led a rally for material companies and the government signaled measures to reduce coal supply that may boost industry prices.
China’s economy entered the final quarter of 2013 with an acceleration in manufacturing and exports, momentum that offered confidence to Communist leaders gathering to determine policy shifts for the coming decade.
Home prices in China’s four major cities jumped the most since January 2011, heightening concerns a bubble is forming as the government refrains from introducing more property curbs that would hinder economic growth.
China’s exports increased more than estimated in August and inflation stayed below a government target, helping Premier Li Keqiang sustain a rebound in the world’s second-largest economy from a two-quarter slowdown.