Premier: no hard landing for china
Print Edition
THERE will be no hard landing for China’s economy, Premier Li Keqiang said yesterday. It will continue to grow at a medium to high pace in the long term.
Li was speaking in London’s financial district on the final day of a three-day visit which has yielded trade and investment deals worth US$23.76 billion and strengthened Britain’s bid to become the dominant center for the Western trade in offshore yuan.
Li said he expected China’s economy to grow at a minimum rate of 7.5 percent, confounding critics who say the country’s rapid growth may eventually falter.
“There have been some discussions saying the Chinese economy is slowing down, they are worried whether the Chinese economy will head to a hard landing. Here I will be very frank and I will also make this point very solemnly: this will not happen,” Li said.
He said China would not resort to “strong stimulus” to meet its growth targets but instead rely on smart and targeted measures.
Li’s comments were later echoed by People’s Bank of China Governor Zhou Xiaochuan, who told a meeting on cooperation in foreign exchange markets that he was confident steady growth and financial stability would ensure market confidence in China’s currency, the yuan.
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