Zhou backs Chinese growth target in face of slowdown

zhou-xiaochuan-and-gaston-reinesch
Zhou Xiaochuan

The Chinese economy is on track to hit authorities' 2014 growth target despite a number of factors pulling in the opposite direction, according to Zhou Xiaochuan, the governor of the People's Bank of China (PBoC).

Zhou said the economy was "in a reasonable range", with employment slightly better than expected and inflation stable and low. Speaking at the International Monetary Fund's annual meeting in Washington, DC, over the weekend, Zhou predicted growth would hit the target of 7.5% in 2014.

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