The Presidential Daily Brief

Important

  1. Small Companies Booming in China

    Traditional pillars of growth — exports, heavy industry and real estate — don’t look so hot, but simple regulatory changes that cut red tape and lowered costs a year ago have led to a 68 percent surge in new businesses, creating 1.76 million companies. Premier Li Keqiang on Thursday reduced China’s growth target this year to around 7 percent, down from last year’s 7.4 percent, the lowest in 24 years. The days of double-digit growth are over, but this job-creation machine may have arrived just in time.

    OZY, FT (sub), NYT 

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