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China's economy will not suffer a hard landing

(People's Daily)  佚名  2016-03-08 15:38

BEIJING, March 6, 2016 (People’s Daily) – “China’s economy will not suffer a hard landing at all,” a senior regulator said Sunday at a press conference on the sidelines of the annual parliamentary session.
 
Xu Shaoshi, who heads the National Development and Reform Commission, said China's economy's speed change, structure optimization and gear shift were all smooth.
 
Unlike previous years when investment was a major contributor to growth, consumption accounted for 66.4 percent and investment only 10 percent, he said. “Services, rather than agriculture and industry, now account for more than half of GDP,” said Xu.
 
The government has a broad enough toolkit for the economy, and is doing research to prepare more policy measures, Xu added.