Xi says no hard landing, Chinese economy has entered 'new normal'

[LONDON] President Xi Jinping said on Wednesday that there would be no hard landing for the world's second largest economy.

Speaking in London via a translator during a state visit to Britain, Xi said China's economy had entered a new normal and there was some downward pressure but foresaw growth rates of about 7 per cent.

On investment, Mr Xi said that China would not close the door that it had opened and that Beijing remained committed to market oriented reform. He said China needed to maintain fair and open market order.

REUTERS