EQUITYWORLD FUTURES Initiate trade shares on exchanges of China early Monday week (06/01), the Shanghai Index opened up, presently observed rises 15.06 0.48 points or percent at 3169.38.
The Shanghai Stock Exchange triggered optimism the strengthening of increased economic growth. China sure has reached 6.7 percent economic growth by 2016, in a targeted range set at the beginning of the year, Vice Finance Minister Zhu Guangyao said on Sunday.
The Chinese economy is growing steady 6.7 per cent in the first three quarters of last year, and Zhu said he is convinced the growth rate will reach the same level or higher in the fourth quarter 1999. Zhu made the statement at a forum held by Tsinghua University in Beijing.
China has been targeting 6.5-7 percent economic growth to 2016, increase government spending, see housing rally and reached a record high level of bank lending last year, however, led to a large increase in debt.
Confidence China’s economic growth Reached 6.7 Percent 2016
EQUITYWORLD FUTURES estimates on trading the Shanghai index will move further positive with optimism economic growth of China. The index will move in a range of Support to penetrate level 3089-3006 and if the price rose will try to penetrate the Resistance level at 1136-3347.