“The national team may be stepping in to boost confidence,” Steve Wang, research director and economist at Reorient Financial, told Bloomberg.
China’s gross domestic product expanded 6.8% in the fourth quarter or just shy of the expected 6.9% growth. The Chinese economy grew 6.9% for the full year, the least since 1990 and relatively in line with the government’s 7% target.
The International Monetary Fund, though, warned of potential further weakness out of China, projecting a 2016% growth target of 6.3% for the emerging market, reports Sofia Pitt for CNBC.
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Max Chen contributed to this article.