Source:
https://scmp.com/business/economy/article/1220107/slowdown-nothing-fret-over-says-pboc-chief
Business

Slowdown is nothing to fret over, says PBOC chief

Zhou Xiaochuan says China's economic shift has hit growth.

China's slower expansion in the first quarter was "normal" as the world's second-largest economy sacrifices growth to make structural reforms, People's Bank of China governor Zhou Xiaochuan said in the US at the weekend.

While a "mild" slowdown in the global economy did have an impact on China, the 7.7 per cent growth rate in gross domestic product was "overall normal" compared with the government's target for this year of 7.5 per cent, Zhou said outside a meeting of the International Monetary Fund in Washington at the weekend.