China's Xi signals he can tolerate slower growth of country's economic powerhouse

Chinese President Xi Jinping signaled that he could tolerate a slower growth of the country’s economic powerhouse during a trip to Guangdong province.

The province’s economy grew only by 4.1 percent in the first three quarters of this year, falling behind the national average of 5.2 percent, but was slightly better than its performance last year, Xi was briefed by Guangdong officials in his visit last week. But Xi suggested such a growth was acceptable, according to the official Xinhua News Agency.

Xi noted that Guangdong’s economic output remains the largest among all provinces in China. “With such a large base, even this level of growth represents a significant increase,” he said.

Xi added that Guangdong should focus on comparing progress with itself rather than others and should work to address new issues arising in the course of economic and social development.