Beijing paying attention to consumer confidence, overcapacity issues

Reports from China’s annual political meetings indicate the government is paying closer attention to consumer confidence and industrial overcapacity, according to Han Lin of consulting firm The Asia Group. Speaking in Shanghai, Han said Beijing’s lower GDP growth range appears aimed at managing expectations while maintaining steady economic expansion.

Han Lin, The Asia Group said "Well, it's interesting when Beijing talks about a lower range for GDP growth now, they're actually trying to suggest it's a deliberate choice, not a form of weakness in the Chinese government."

Han said China has also stepped up diplomatic engagement with global leaders in recent months in an effort to maintain stable international relations and keep external markets open as it works to address excess production at home.