360° Coverage : Chinese economy not to take hard landing: finance minister

1 Updates
Chinese economy not to take hard landing: finance minister
Photo Credit: WANG ZHAO, Getty Images

Chinese economy not to take hard landing: finance minister

Jul 12 2013, 2:50am CDT | by

Washington, July 12 (IANS) China's Finance Minister Lou Jiwei has said here that his country's economy will not take a hard landing.

Washington, July 12 — China's Finance Minister Lou Jiwei has said here that his country's economy will not take a hard landing. "Despite the slowdown of China's economic growth rate, the structural...

Filed under: news

YouTube Videos

 
 
 

1 year ago

Chinese economy not to take hard landing: finance minister

Jul 12 2013, 2:50am CDT | by

Washington, July 12 (IANS) China's Finance Minister Lou Jiwei has said here that his country's economy will not take a hard landing.

Washington, July 12 — China's Finance Minister Lou Jiwei has said here that his country's economy will not take a hard landing.

"Despite the slowdown of China's economic growth rate, the structural reform is paying off," Lou told the press Thursday after a session on reform and sustainable development on the second day of the two-day China-US 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, reported Xinhua.

"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.

He added that China's expected GDP growth rate this year is seven percent. 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. There is no doubt that China can achieve the growth target, though the seven-percent goal should not be considered as the bottom line.

With regard to the exit of US quantitative easing policy, Lou said the US economy has maintained 40 consecutive months of recovery, so China understood and supported US 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 US have been holding the annual S&ED talks since 2009 when US President Barack Obama came to office, as a major channel of communication to enhance mutual trust, boost cooperation and properly handle differences.

IANS

Source: IANS

 

Don't miss ...

 

<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.

 

blog comments powered by Disqus

Latest stories

Both US nurses recover from Ebola: hospitals
Washington, Oct 25 (IANS) Both US nurses who contracted Ebola while caring for a patient from Liberia have recovered from the potentially deadly disease, the hospitals that treated them said Friday.
 
 
UN gives Rwanda $7.2 mn for policy planning
Kigali, Oct 25 (IANS) The government of Rwanda and One UN Rwanda Friday signed 7.2 million dollars financing deal to build capacity in data generation and enhance evidence based on policy planning.
 
 
US nurse with Ebola to be discharged from hospital
Washington, Oct 24 (IANS) A US nurse infected with the Ebola virus disease while caring for a patient from Liberia in Texas will be discharged from hospital soon, the US National Institutes of Health (NIH) said Friday.
 
 
Hundreds of thousands of Ebola vaccines to be ready in 2015: WHO
Geneva, Oct 24 (IANS) Assistant Director-General of World Health Organisation (WHO) Marie-Paule Kieny Friday said hundreds of thousands of Ebola vaccines might be ready for use in the first half of 2015 to turn the tide against the deadly epidemic.
 
 
 

Latest from the Network

Second MERS case reported in Qatar
Doha, Oct 23 (IANS) A 43-year-old man in Qatar has tested positive for Middle East Respiratory Syndrome (MERS) in the second confirmed case of the deadly virus in 10 days, media reported Thursday. The patient had...
Read more on Business Balla
 
Two people die in Pakistan bomb blast
Islamabad, Oct 23 (IANS) At least two people were killed and 12 others injured in an explosion that took place in Pakistan's Balochistan province Thursday, media reported. The bomb was planted on a motorcycle, Dawn...
Read more on Politics Balla
 
Trott extends contract with Warwickshire till 2017
London, Oct 23 (IANS) England batsman Jonathan Trott, whose mental issues led to his abrupt departure from last winter's Ashes tour, has confirmed his successful comeback to competitive cricket by signing a new three-...
Read more on Sport Balla
 
Srikanth, Kashyap big movers in BWF rankings
Kuala Lumpur, Oct 23 (IANS) Indian men shuttlers Kidambi Srikanth and Parupalli Kashyap jumped seven places each in the latest Badminton World Federation (BWF) rankings released Thursday while Olympic bronze medallist...
Read more on Sport Balla
 
Alvin Stardust dead
London, Oct 23 (IANS) English singer Alvin Stardust died after a short illness. He was 72. Stardust's manager confirmed the news about his demise Thursday, reports mirror.co.uk. He was recently diagnosed with...
Read more on Celebrity Balla
 
Indian man reunited with family after 40 years
Dubai, Oct 23 (IANS) An Indian man, who had disappeared from his hometown in Kerala nearly 40 years ago, has been found by his family at a hospital in Dubai in the UAE, a newspaper report said. Now in his 60s, Abdulla...
Read more on Politics Balla
 
Srikanth, Kashyap, Saina rise in world rankings
Kala Lumpur, Oct 23 (IANS) Indian men shuttlers Kidambi Srikanth and Parupalli Kashyap jumped seven places each in the latest released Badminton World Federation (BWF) rankings Thursday while Olympic bronze medallist...
Read more on Sport Balla
 
Flintoff signs for Big Bash side Brisbane Heat
Brisbane, Oct 23 (IANS) Former England captain and all-rounder Andrew Flintoff, who retired from international cricket in 2009, Wednesday confirmed that he will play for Brisbane Heat in the Big Bash League (BBL) this...
Read more on Sport Balla
 
OPEC daily basket price falls again
Vienna, Oct 23 (IANS/WAM) The basket of 12 crude oils of the Organization of Petroleum Exporting Countries (OPEC) closed at $81.94 a barrel Wednesday compared to $82.09 Tuesday, the OPEC Secretariat said. The new OPEC...
Read more on Business Balla
 
Lopez to sign multi-million dollar deal?
Los Angeles, Oct 23 (IANS) Singer-actress Jennifer Lopez is reportedly in the final stages of securing a multi-million dollar deal to perform in Las Vegas. The 45-year-old is being offered $350,000 per show at The...
Read more on Celebrity Balla