No hard landing for China’s economy: Li Keqiang

Premier Li Keqiang defended his move to cut China’s GDP target to 6.5 per cent and asked the critics to stop forecasts of a hard landing for the world’s second largest economy.

“If we achieve the 6.5 per cent GDP in 2017 it would generate more economic output than the last year. This growth is based on 70 trillion RMB or USD 11 trillion, a very large base figure. This is a growth that will generate 11 million new urban jobs,” he said at an annual media conference.

“Almost every year, I have heard a prediction of the Chinese economy having a hard landing….But I believe that our economic performance in the past several years … should suffice to put a full stop to such prophesies of a hard landing,” Li said.

China’s contribution to global growth will not come down and the Chinese economy will continue to be a strong driving force in the face of sluggish global economy, he said.

(Agencies)

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