Update | Chinese media’s war of words with billionaire investor George Soros goes on as Premier Li Keqiang calls shorting of economy ‘absurd’

The war of words between China’s state-run media and George Soros – which saw China’s Premier Li Keqiang getting involved – after the billionaire investor’s claims that a hard landing on the mainland was unavoidable continued on Thursday.

“It is groundless to be bearish about China’s economy,” said a commentary in the state-run People’s Daily newspaper.

“Actually, if there is a chance to closely observe the life of ordinary Chinese people, one can find that there is no sign of any economic slowdown at all, and certainly no forewarning of any collapse,” it said.

Past changes in the yuan’s exchange rate were normal revisions within a reasonable range and the stock market volatility, experienced since last summer did not reflect the true state of the economy, it said.

The commentary followed the decision by the United States Federal Reserve on Wednesday to keep its interest rates unchanged at its policy meeting.

Any change in US interest rates could have an affect on the Chinese economy.