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(Wallace Refiners) – For the metals markets China is one of the most important countries in the world. Around 51% of base metals consumption comes from the nation and China is very active in the gold markets. Today there has been many comments from Chinese Premier Li and in one of the headlines the Premier said A 2021 growth target of 6% is not too low.
Adding to this he believes that China’s economic recovery will create more jobs with China prioritizing jobs for economic planning. Their growth targets aim to guide global economic recovery but the recovery is still facing many uncertainties, according to Premier Li. He added “Walking quickly for a moment does not mean one is walking steadily,” Li said. “It is only with a steady pace that we will be firm in our steps.”.
The Premier said the government will keep economic operations within a reasonable range (in 2021) and that China will make appropriate policy adjustments to keep the market stable. Li said “We did not ease policies last year, nor do so-called quantitative easing, and there is also no need for a ‘sharp turn’ this year,”
As the US and China are due to meet next week in Alaska, Premier Li said “China and the US should conduct dialogues in multiple levels, they should manage and control differences. He then added he hopes China and the US should overcome obstacles and move in a positive direction. This seems to be China extending an olive branch after Donald Trump’s volatile reign.
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