'China's economy to remain strongest engine for growth'

Image
Press Trust of India Beijing
Last Updated : Mar 02 2017 | 6:22 PM IST
China today said its economy is expected to remain the "strongest engine" for world economic growth this year despite the slowdown.
China's economy, which posted double digit growth rates till 2011, grew 6.7 per cent last year, the slowest in 26 years.
The economy slowed down from 6.9 per cent in 2015, when it slipped below the 7 per cent but still well within the government's target range of 6.5-7 per cent.
The fundamentals for China's long-term growth have not changed, and the economy still enjoys strong sources of growth, Wang Guoqing of China's National Committee of the Chinese People's Political Consultative Conference (CPCC) said at a press conference.
CPPCC, a advisory body comprised of nominated members from various walks of life, will begin its session tomorrow.
"Both the quality and efficiency of China's economy saw further improvement last year," Wang said.
China's steady growth creates greater demand, a wider variety of products and more cooperation opportunities, Wang said.
"Seeking progress while maintaining stability" will be the main theme for China's economic work this year, according to a statement issued after the Central Economic Work Conference in December last year.
Wang added that China will seek new progress in the reform of important areas.
"We can be assured that China will not slow down its steps in deepening overall reforms, but make steadier strides," he said.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Mar 02 2017 | 6:22 PM IST

Next Story