China’s economy will develop in a reasonable and not expecting a hard landing, the head of the State Committee on Affairs of development and reform Commission of China Xu Shaoshi.
“The Chinese economy absolutely does not expect a hard landing. Predictions of a “hard landing” will not come true” – leads TASS his statement.
“We have the (necessary) conditions, the strength and confidence to ensure the development of the Chinese economy in a reasonable range in 2016”, – the official assured. Xu Shaoshi noted that the structure of the economy of China is constantly improving: to date, the contribution of consumption to GDP has exceeded investment, and the share of services exceeded 50%.
“In China, a gradual slowdown in the growth of the national economy. So, in 2010 this indicator was at level of 10,4%, in 2011 – 9.2% and in 2012 of 7.8%. By the end of 2013 the pace of China’s economic growth slowed to 7.7%, and in 2015 they amounted to 6.9%. The official forecast for 2016 is 6.5-7%.