China’s central bank governor Pan Gongsheng downplayed risks from deflation and a weakening yuan and stressed that his econony’s strong start to 2024 put the official 5% growth target within reach. The economy expanded 5.3% in the first quarter from a year before, and “this good start has laid a solid foundation for achieving the annual economic and social development goals,” Pan said in a statement to the International Monetary and Financial Committee during a meeting in Washington on Friday. The People’s Bank of China has maintained the yuan exchange rate “basically stable at an adaptive and equilibrium level,” Pan ... (full story)