Eyes on China's next steps as fears of economic hard landing grow

Shanghai

WHEN Chinese Premier Li Keqiang sought to reassure business leaders that the world's second-largest economy can stave off a hard landing, he acknowledged mounting fears of exactly that, and analysts say the adjustment to slower growth will be painful.

Just six months ago, Mr Li set a 2015 economic growth target of "around 7 per cent", confidently telling lawmakers that the economy was adjusting to a "new normal".

But he scrambled to reassure a World Economic Forum meeting on Thursday that China…