China Abandons Hard Growth Target, Shifts Stimulus Focus to Jobs

The Chinese government abandoned its decades-long practice of setting an annual target for economic growth amid the storm of uncertainty unleashed by the coronavirus pandemic, and said it would continue to increase stimulus. Speaking at the National People’s Congress in Beijing on Friday morning, Premier Li Keqiang delivered an annual policy address that instead laid …

Iron ore futures retreat as traders take profits ahead of Two Sessions

Iron ore futures retreated on Wednesday ahead of China’s Two Sessions meeting which is scheduled to convene tomorrow. Some profit-taking activities could be attributed to the decline as investors await the annual meeting for news of fresh impetus.   Iron ore has enjoyed a stellar run of late, gaining over $13 since the start of …