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
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers
Economic leaders of South Korea, Japan, China say FX volatility is a risk
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’