Chinese stock markets were mostly lower today and continue to consolidate after the September jump but there are concerns brewing.
A Xinhua commentary on Tuesday appeared to downplay hopes ahead of the Central Economic Work Conference, which will take place December 11 and 12.
“If we do not get rid of the ‘worship of speed’ mindset and are addicted
to building more projects, even if we can temporarily lift the pace of
the growth, we will be taking an overdraft from the future,” the report said. “It’s not that we cannot grow faster — it’s a question of
whether we should.”
The state-sponsored commentary also said growth could be “a little to the left or right” of 5% and that would be acceptable.
Ahead of the Work Conference, market participants will also be closely watching the readout from the Politburo meeting.
This article was written by Adam Button at www.forexlive.com.
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