China pledges no economic hard-landing
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Xinhua, August 19, 2011
China's economy will not see a hard-landing but instead be stable with relatively fast growth, Vice President Xi Jinping said on Friday.
Xi made the remarks as he attended the U.S.-China Business Dialogue, where U.S. Vice President Joe Biden and entrepreneurs from China and the United States were also present.
Xi said China will continue its proactive fiscal policy and prudent monetary policy while enhancing a macroeconomic policy that is stable, sustainable, targeted, flexible and focused on the long term.
"China will properly handle the relationship between stable and relatively fast economic development, economic restructuring and inflation expectation," he said.
Xi pointed out that the current worsening turbulence in the international financial market and in the recovery of the world economy has led to new challenges for economic recovery and operation of individual businesses.
"As the U.S. economy is resilient and can self-recover, we believe that the U.S. will make progress in handling the challenges," he added.
Xi hopes both Chinese and U.S. entrepreneurs can make positive contributions to the strong and sustainable growth of the Sino-U.S. economy, as well as the global economy.
