Arab Today, arab today chinas economy not headed for hard landing
Last Updated : GMT 09:18:07
Arab Today, arab today
Arab Today, arab today

China's economy not headed for 'hard landing'

Arab Today, arab today

Arab Today, arab today China's economy not headed for 'hard landing'

Chinese Premier Li Keqiang
Davos - AFP

China's Premier Li Keqiang sought Wednesday to allay fears over the Asian giant's growth outlook, telling business and government elites gathered in Davos that the economy is not heading for a sharp slowdown.
A day after China posted the weakest growth in almost a quarter of a decade, Li vowed to push on with structural reforms which he said would deliver "quality growth" rather than just a high top-line figure.
"What I want to emphasise is that regional or systemic financial crises will not happen in China and that the Chinese economy will not head for a hard landing," Li said.
He added that if China did not lose sight of its planned reforms, its economic train "will not lose speed or momentum" but will "run smoother and stronger".
China's economy grew by 7.4 percent in 2014, slower than the 7.7 percent in 2013, raising concerns at a time when the global economy is looking to the Asian giant to maintain growth momentum.
The full-year result, the worst since 3.8 percent recorded in 1990, comes after one of the pillars of the global economy was hit by manufacturing and trade weakness as well as declining prices for real estate, which has hammered the key property sector.
In its latest World Economic Outlook update, released Tuesday, the International Monetary Fund projected even slower growth this year, of 6.8 percent.
African and Latin American commodity producers in particular are watching anxiously as slackening demand in China hurts their vital exports.
But Li argued that efforts made by the government to shift China's economy away from one that is investment and export driven towards greater consumption would ultimately make growth more sustainable for the world.
He cited the 13 million new jobs created during the year as an example, showing that "we have adopted correct and effective reforms".
"What should we choose? For higher growth or for mid to high growth of a higher quality in the long run? The answer is obviously the latter," he said.
"China is still a developing country, it has a long way to go in the development process," said Li, saying that there is still room for development even in China's urban areas.
"Domestic demand will keep improving and bring even greater development for the world," added Li.
China will also launch new projects including railway infrastructure, said Li, adding that "efforts will be made to break monopoly to encourage foreign participation" in these plans.
"China's development will bring more business opportunity to the world," he said.
Separately, China's top central banker also delivered an upbeat assessment on the country's economic prospects.
"Basically the People's Bank of China is confident that the Chinese economy is still able to have relatively high growth rate," said Zhou Xiaochuan.
"Meanwhile we emphasise more on the structural reform.  
"China is slowing down a bit, but it's becoming more sustainable. I think that's good news," he added.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chinas economy not headed for hard landing Arab Today, arab today chinas economy not headed for hard landing

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chinas economy not headed for hard landing Arab Today, arab today chinas economy not headed for hard landing

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Syrian children die of hunger

GMT 19:25 2017 Sunday ,22 October

Syrian children die of hunger
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Rogina happy for reactions to “The Flood”

GMT 09:30 2017 Friday ,20 October

Rogina happy for reactions to “The Flood”
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:07 2017 Sunday ,22 October

15,000 Under Fives Die

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday