China will reach its target of economic growth of 6% to 6.5% in 2019, said National Bureau of Statistics head Ning Jizhe, just days before the official release of data on gross domestic product from last year.
China remains the world’s fastest-growing economy larger than $10 trillion, he said at a forum on Saturday, according to a report from the Securities Times. The remarks come as the planned signing of a phase-one trade deal with the U.S. in Washington next week brightens the outlook and dispels uncertainties over economic expansion.
The nation is set to announce fourth quarter and full year GDP for 2019 on Friday. While growth slowed to 6% in the third quarter, manufacturing figures over the past months have displayed signs of stabilizing, signals a cyclical slowdown is likely drawing to a close.
In another context, on January 11 2020, The United States and China have agreed to hold semi-annual talks with an aim to implement reforms and resolve any disputes.
“The effort will be headed by Treasury Secretary Steven Mnuchin and, probably, Chinese Vice Premier Liu He, said an administration official and others briefed on the effort,” wrote the WSJ’s Bob Davis and Alex Leary.
These talks are said to be separate from phase-two trade negotiations. Earlier in the week, US President Donald Trump said that phase-two negotiations with China will start right away but added that he might want to wait until the end of the 2020 presidential election to finalize it.