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Foreign media on two sessions: reform and innovation to inject new impetus to Chinese economy

Updated: Mar 18,2016 7:44 PM

Having highly focused on China’s two sessions over the past few days, foreign media believe that reform and innovation will inject new impetus to the Chinese economy, which will push forward global economic development.

There are more hopes than difficulties. China will stick to the reform, strive to strengthen the financial system construction and take actions to reduce over capacity while avoiding massive layoffs. Some areas still keep a strong momentum under the downward pressure in the economy.

--Wall Street Journal

The Chinese government makes clear that the macro-control measures will be taken during the period of the “13th Five-Year Plan” if the economy slides out of an appropriate range of operation.

--Deutsche Presse- Agentur

The Chinese government will proceed with reform in China’s foreign exchange system in an orderly manner, and enhance the usage rate of the its currency in the global market, experts are saying that based on the stable and strongly-sustainable financial system, China is equipped to control risks in financial reforms.

--TASS Russian News Agency

With the adoption of a 6.5-7% growth target range, China will experience a “soft landing” to a medium- high growth rate. It’s time for the Chinese government to show its ability and wisdom in terms of promoting structural reform in the medium-long term, touting flexible policies to stabilize the economy, or pursuing stable development of the economy and society as well.

--Nihon Keizai Shimbun of Japan

It is of great significance for a steady economic development and social transition by setting a 6.5-7% growth target range, which indicates a “new normal” in terms of the objective management of the Chinese government.

--Lianhe Zaobao

China will strive to realize a target of a 6.5-7% growth rate in 2016, stabilize and improve macroeconomic policies, strengthen supply-side structural reforms, tap domestic demand’s potential, modernize the agricultural sector, further open up, fight air pollution, enhance people’s livelihood, and build up and improve government itself.

--Nhan Dan (People) Newspaper of Vietnam

China’s annual growth was at 6.9% in 2015, ranking high among the world’s major economies, which demonstrates it maintains a strong inherent resiliency and risk-resisting ability.

--Jakarta Post