China's growth in 'reasonable range', Vice-Premier Zhang Gaoli tells Apec
Ministers express little worries over economy growing at a lower 7.3 per cent in the third quarter, saying it is within reasonable range
Mainland leaders yesterday expressed comfort with the slower economic growth and played down predictions of the economy emerging as the world's biggest this year.
"Economic growth was within a reasonable range, as expected," Vice-Premier Zhang Gaoli said at the opening of the Asia-Pacific Economic Cooperation finance ministers' meeting.
"Inflation has stayed stable and the job market is in a good condition."
Finance Minister Lou Jiwei echoed him at a press briefing after the meeting: "The multiple targets for this year, including around 7.5 per cent economic growth, 10 million new jobs and about 3.5 per cent inflation rate, aren't like the binding tasks set during the planned economy era.
"They are just forecasts. Therefore, a 7.3 per cent growth rate is within our forecast range."
The 7.3 per cent growth in the third quarter after expanding 7.5 per cent in the first half was a five-year low.
Lou appears to be one of the senior figures least worried about a slowdown. At an International Monetary Fund meeting last year, he had said growth as low as 6.5 per cent would be tolerable.