Chinese premier rules out economic hard landing

Visiting Chinese Premier Li Keqiang said here Wednesday that his country's economy is not heading to a hard landing and will continue to grow at a moderate to high pace.
The about 7.5-percent growth of the Chinese economy in recent years has given rise to skepticism and even worries of a hard landing, he noted while addressing a gathering co-hosted by Chatham House and the International Institute for Strategic Studies, two prestigious British think tanks.
"Here I honestly and officially promise all of you: That will not happen," he said at the event, which took place at Mansion House in the City of London.
Pointing out that China is still in the process of industrialization and urbanization and its development remains unbalanced, he said the development gaps between different regions and between urban and rural areas mean huge growth potential and domestic demand.
As long as China moves in the right direction, makes good use of Oriental wisdom and draws on Western experiences, its economy will keep growing at a moderate to high pace in the long run, he said.