China officially reduced its economic growth estimate for this year to a range of 6.5%-7%, after expanding 6.9% (its slowest pace in a quarter of a century) in 2015.
China has a conflict of growth and reforms. China’s forex reserves have come under close scrutiny in recent months. Capital outflows, as well as the ability of policymakers to support the yuan, are being watched.
China’s foreign currency reserves dropped in February to 3.2 trillion dollars. That’s the lowest level since 2011.