The National Development and Reform Commission has set a target growth range of 6.5-7% for 2016, the first such range since the party targeted 8-9% growth in 1995, Bloomberg reported, citing an announcement from the commission. “It’s impractical to have a growth target being a number,” said Iris Pang, a Greater China economist at Natixis SA in Hong Kong, which forecasts 6.6% growth this year. “A range is more practical. It gives more room for policy makers to exercise their creativity to boost the economy.” Rajiv Biswas, Asia-Pacific chief economist at IHS Global Insight in Singapore, said the range “reflects the increased uncertainty in the near-term outlook”.
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