Slowing growth a sign of shifting to different mode of development, Xi Jinping tells US delegates
China's economy was resilient and had the capacity to maintain a long-term medium-to-high growth rate, state media reported President Xi Jinping telling US business leaders and former officials yesterday.
China's economy was resilient and had the capacity to maintain a long-term medium-to-high growth rate, state media reported President Xi Jinping telling US business leaders and former officials yesterday.
Xi said slowing growth was the result of the country shifting to a different mode of development, adjusting its economic structure and digesting earlier stimulus moves, according to Xinhua and state broadcasters.
Speaking to the business leaders in advance of his trip to the United States next week, Xi acknowledged that the economic slowdown had raised international concern.
The economy has huge potential and room for manoeuvre, Xi was reported to have said.
China's economy is on track to post its slowest growth in 25 years and a big crash in the stock market has added to uncertainty.
Xi said he was looking forward to a "profound exchange of views" with his US counterpart Barack Obama when they meet in Washington next week.