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Media comments on Chinese economy around the world

Updated: Feb 18,2016 5:47 PM     english.gov.cn

Premier Li Keqiang said on Feb 14 that the Chinese economy is facing great challenges and new uncertainties due to the influence of global economy and many countries’ stock markets. He also said that the government still has many adjustment measures not used yet.

-- BBC on Feb 16

Premier Li Keqiang said on Feb 14 that the Chinese economy still has great potential. He added that China has a high savings rate and rich leeway, the government will take immediate measures if there are signs that the economy may not be operating in a reasonable range.

-- Reuters on Feb 15

China’s stock market and foreign exchange market saw big fluctuations since last summer. To handle related risks, regulators released measures in various aspects. Regarding communication, Premier Li Keqiang said that ministers and people responsible at affiliated organizations should hold or attend press conferences and actively respond to people’s concerns.

-- Wall Street Journal on Feb 16

China has the ability to maintain stable development of the economy. The Chinese government will not promote export by devaluation or trade war, said the Premier.

-- Reuters on Jan 28

Premier Li Keqiang assured a healthy Chinese economy and the government’s effort in reform while on a telephone call with Christine Lagarde, managing director of the International Monetary Fund (IMF).

-- the Diplomat on Jan 29

The growth rate of global economy reached a record low since the economic crisis in 2008. It is not easy for the Chinese economy to reach a 6.9-percent growth rate.

-- Reuters on Jan 27

The Chinese economy has entered a critical period in development mode transformation, and industrial transformation and upgrading. The Premier attached importance to new ideas and said development should always be put first.

-- Reuters on Jan 26

Premier Li Keqiang said that the change from business tax to value-added tax will be promoted in 2016 to accelerate the reform of taxation system and further relieve the burden on enterprises.

-- South China Morning Post on Jan 26

As the Chinese economy is developing into a more mature stage, and domestic driven forces are still being used instead of exports, its growth rate will continue to slow down. Chinese economy has its problems just like any other economy, but the problem is not as big as some people said recently.

-- National Interest on Jan 26

China’s experience in the 1990s proves that the country has the ability to rise from adversity. Since some important reforms have not been accomplished, there’s great potential for the Chinese economy to maintain stable growth by improving efficiency and productivity. Once resources such as labor, capital and talent are distributed more evenly, China will develop into a high-income country.

-- Project Syndicate on Feb 11

Though the Chinese market is facing fluctuations, pessimism about the Chinese economy is exaggerated. It is unnatural for any country to maintain an economic growth rate over 10 percent in the long-term. Being the world’s second largest economic entity, it is still worth being praised for a growth rate of 5-7 percent. Therefore, China and the world should become accustomed to the new normal.

-- BBC on Feb 10

Those who are worried that the growth of the Chinese economy has ceased forever should notice that only half of the country’s population are urban dwellers. Once the current accommodation and other stocked materials are consumed in the next few years, urbanization will continue to bring more development.

-- Financial Post on Feb 8

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