|Xi assures China slowdown is as planned
China's economy is on a smooth and controlled slowdown, President Xi Jinping said today at a business forum in Bali, Indonesia.
“The change... has on the whole been smooth,'' Xi told an Asia-Pacific business forum.
“Nothing has come as a surprise... the slowdown of the Chinese economy is an intended result of our own regulatory initiatives.''
Xi acknowledged that there had been concerns around the world about China's economy, after growth slid from 9.3 percent in 2011 to 7.6 percent in the first half of this year.
“Some wondered whether there will be a hard landing, whether sustained healthy growth was still possible, how China will deal with the situation and what impact this will have on the Asia Pacific,'' he said.
“I wish to emphasize that based on a comprehensive analysis of all factors, I am fully confident about the future of China's economy.''
He said expansion was “within the reasonable and expected range,’’ while emphasizing that even the slower growth experienced this year was still an enviable performance.—AFP