Chinese economy not to take hard landing: finance minister
                 English.news.cn | 2013-07-12 06:22:15 | Editor: yan

 

 Chinese Finance Minister Lou Jiwei attends a press conference on the second day of the China-U.S. Strategic and Economic Dialogue (S&ED) in Washington, July 11, 2013. Lou Jiwei said here Thursday that China's economy will not take a hard landing, stressing that a slower economic growth rate is resulted from economic restructuring. (Xinhua/Fang Zhe)

WASHINGTON, July 11 (Xinhua) -- China's Finance Minister Lou Jiwei said here Thursday that his country's economy will not take a hard landing and a slower economic growth rate is a necessary phenomenon from economic restructuring.

"Despite the slowdown of China's economic growth rate, the structural reform is paying off," Lou told the press after a session on reform and sustainable development on the second day of the two-day China-U.S. Strategic and Economic Dialogue (S&ED).

He said China's growth performance and quality had been enhanced and the country has the confidence to deal with the current challenges and promote the economic sustainable growth.

"The contribution of consumption to GDP (Gross Domestic Product) growth has increased, the proportion of service sector to GDP has also enhanced, the ratio of current account surplus of GDP has dropped, employment situation is good, and CPI (Consumer Price Index) is not high," said Lou.

In the first quarter the growth rate was 7.7 percent, and the rate in the first half of this year will be slightly lower than 7.7 percent, he added. There is no doubt that China can achieve this year's growth target of 7.5 percent.

With regard to the exit of U.S. quantitative easing policy, Lou said the U.S. economy has maintained 40 consecutive months of recovery, so China understood and supported U.S. consideration of tapering. China has not fully liberalized its capital account, so the impact on China will not be serious, he added.

China and the United States have been holding the annual S&ED talks since 2009 when U.S. President Barack Obama came to office, as a major channel of communication to enhance mutual trust, boost cooperation and properly handle differences.

   1 2 3   

分享
China, U.S. to start substantive BIT negotiations soon
China, U.S. sign six new EcoPartnership agreements
New China-U.S. relations start with Asia-Pacific: senior Chinese official
Commentary: Mutual understanding key to success of top China-U.S. dialogue
China, U.S. start key annual dialogue on bilateral ties
In pictures: China, Russia hold largest-ever joint naval drills
In pictures: China, Russia hold largest-ever joint naval drills
Chinese female sailors at China-Russia joint naval drills
Chinese female sailors at China-Russia joint naval drills
Visiting Chinese vice premier meets U.S. commerce secretary
Visiting Chinese vice premier meets U.S. commerce secretary
Rescue workers restore bridge's damage caused by flood in SW China
Rescue workers restore bridge's damage caused by flood in SW China
39 killed, 26 wounded in separate attacks across Iraq
39 killed, 26 wounded in separate attacks across Iraq
At least six killed in French train derailment
At least six killed in French train derailment
2 killed in suicide bomb attack in Mogadishu
2 killed in suicide bomb attack in Mogadishu
Snowden seeks political asylum in Russia
Snowden seeks political asylum in Russia
Back to Top Close
010020070750000000000000011100891325335371