China clarifies economic policies, refo

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BEIJING Cheap Womens Nike Air Max , Feb. 27 (Xinhua) -- The economic slowdown and volatility across the stock and currency markets have fanned concerns about the world's second largest economy, with some even predicting a "hard landing."

While such a conclusion is a result of a misreading or exaggeration of the challenges facing the Chinese economy, it also underestimates the ability of Chinese policymakers.

It has been agreed that the investment-led model of growth has reached its limits. A multitude of problems, including high debt levels, industrial overcapacity and environmental degradation, make it imperative that the economy is guided onto a more sustainable path.

The economic slowdown is one of the side effects of the painful and protracted transition toward a model that draws strength from consumption Cheap Nike Air Max , services and innovation.

What is more, 6.9-percent annual growth is an enviable rate for any country, not least given the magnitude of the Chinese economy which contributed about one fourth to global economic growth and added an equivalent of the whole Swedish economy in 2015.

Concerning the problems, debt levels are fully under control and much lower than those of most developed economies, and supply-side structural reform will be a natural recipe for overcapacity.

For the once turbulent stock market, the storm has abated and more signs of stabilizing are emerging after risks have Cheap Air Max Canada , to a large extent, been tempered.

The currency market fared well recently as speculative forces betting against it are losing steam and there was no basis for persistent renminbi depreciation in the first place.

Contrary to the doomsayers, the Chinese economy is making headway in transforming itself to a more sustainable growth model. As old growth drivers slow, new ones have risen to take up the slack.

In 2015, consumption contributed 66.4 percent to the GDP in 2015, up 15.4 percentage points from 2014. From another angle Cheap Air Max Shoes , the service sector contributed 50.5 percent to the economy in 2015, up from 48.1 percent in 2014. It is the first time the sector has exceeded 50 percent.

When people say "the fundamentals of China's economy remain strong," it is not just lip service.

China's high saving rate can be translated into investment and the government still has monetary policy space and tools to address potential downside risks.

Even after several months of declines, the country still holds 3.23 trillion U.S. dollars in foreign exchange reserves, a powerful arsenal in hand to fend off any systemic risks.

After all, China has proved its ability to implement key reforms and shown a solid track record of intervening at the right time to stop substantial risks from escalating out of control Cheap Youth Air Max , and that's maybe why a hard landing or collapse scenario as prophesied by many will never come.


China clarifies economic policies, reform agenda at G20 meeting

SHANGHAI, Feb. 26 (Xinhua) -- Chinese policymakers on Friday sketched out the country's economic policies and reform agenda, reassuring the world that the government has plenty policy tools to combat downward pressure as financial leaders from G20 nations gathered in Shanghai.

In a video message to the G20 Finance Ministers and Central Bank Governors Meeting, Chinese Premier Li Keqiang reiterated that China has the confidence to handle the complex economic situation at home and abroad.Full Story

Chinese Premier urges G20 policy coordination

SHANGHAI, Feb. 26 (Xinhua) -- Chinese Premier Li Keqiang on Friday called for closer macroeconomic policy coordination among G20 members against global economic headwinds.

"When formulating macroeconomic policies Cheap Mens Air Max , G20 members need to keep in mind not just their own growth. They also need to look after the spillover effects of their policies," said Li in a video message to the G20 Finance Ministers and Central Bank Governors Meeting that opened Friday in Shanghai.

"We need to increase communication and coordination, and work together to secure the stability of the international financial market," said the premier. Full story

Spotlight: G20 ministers, central bankers expected to address global growth concerns

BEIJING, Feb. 26 (Xinhua) -- Finance ministers and central bank governors from the Group of 20 are expected to coordinate policy to support the fragile recovery of the global economy when they meet in Shanghai on Friday.

The market is awaiting messages from the two-day G20 Finance Ministers and Central Bank Governors Meeting after a rocky start in the global financial markets since the beginning of the year. Full story

Chinese finance minister calls for structural reform of G20

SHANGHAI Cheap Womens Air Max , Feb. 26 (Xinhua) -- China's finance minister on Friday suggested that structural reform was the best way to sustain economic growth in G20 countries.

Structural reform is crucial to a robust, balanced and sustainable economy, with governments working on coordinated top-down design, Finance Minister Lou Jiwei told the ongoing G20 Finance Ministers and Central Bank Governors Meeting.

BEIJING, March 10 (Xinhua) -- China's 13th Five-Year Plan concerns more than just its own domestic affairs. The world should sit up and pay attention: it will have a global impact, analysts said.

"China has been the powerhouse of the world for decades. In the next five years Cheap Air Max , ballooning domestic demand, investment and buying power will further vitalize the global economy," said Chen Fengying, world economy researcher with the China Institute of Contemporary International Relations.

As China steers itself toward quality development in the next five years, a critical period of transition, the world should cast their eyes east Cheap Air Max 90 Canada , said Chen.

The draft of the 13th Five-Year Plan (2016-2020), outlines policies, priorities, as well as clear economic and social targets.

"Such clear goals w

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