You’re at: News Channels>> Home Picture

China should adapt to new norm of growth: Xi

( Source: Xinhua  )         2014-May-10 21:49


Chinese President Xi Jinping (L front), also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, talks with staff members of Zhengzhou-Europe International Block Train at Zhengzhou International Land Port in Zhengzhou, capital of central China's Henan Province, May 10, 2014. Xi made an inspection tour in Henan from May 9 to 10. (Xinhua/Zhang Duo)

  ZHENGZHOU, May 10 (Xinhua) -- Chinese President Xi Jinping said Saturday that the country should adapt to new norm for its economic growth and be cool-minded amid slowdown in the world's second-largest economy.

  Xi made the remark during his inspection tour to central China's Henan Province from Friday to Saturday.

  "China is still in a significant period of strategic opportunity. We must boost our confidence, adapt to the new normal condition based on the characteristics of China's economic growth in the current phase and stay cool-minded," Xi said.

  The country's economy has gradually slowed since the international financial crisis in 2008. Its economy expanded by 7.7 percent in both 2012 and 2013, the slowest pace since 1999.

  However, China should also attach great significance to preventing diversified risks for its economy and take timely countermeasures to reduce potential negative effects, Xi said.

  "The basic conditions for sustaining the country's growth have not changed, so we should stick to the fundamental principle of seeking progresses while maintaining stability in economic work," he said.

  The government must continue to coordinate the relations of stabilizing growth, promoting reforms, adjusting structure, improving people's livelihood and preventing risks so as to ensure sound economic growth and social stability, according to Xi.

  Xi's words are in line with recent message from some other senior officials concerning the direction of China's economic policies.

  Premier Li Keqiang said at a forum in Hainan Province last month that China will not resort to strong short-term stimulus policies just because of temporary economic fluctuations, but rather pay more attention to sound development in the medium and long run.

  China will seek growth impetus from deepening reforms, adjusting economic structure and improving people's livelihood, the premier said.

  On Saturday, China's central bank governor Zhou Xiaochuan reaffirmed the stance at a conference in Beijing, saying that macroeconomic policies should be stable and no massive stimulus should be taken at present.

  Zhou urged for more accurate judgment about the present economic situation, arguing that short-term economic figures may not be sufficient to help come to conclusions.

  China's economic growth slowed to a six-quarter low of 7.4 percent in the first quarter of the year, down from a growth of 7.7 percent in the final quarter of 2013.

  In spite of the slowdown, the pace was within a reasonable range, as the government has set the annual growth target for this year at about 7.5 percent.


Chinese President Xi Jinping (C) visits a bonded logistics center in Zhengzhou, capital of central China's Henan Province, May 10, 2014. Xi made an inspection tour in Henan from May 9 to 10. (Xinhua/Zhang Duo)


Chinese President Xi Jinping (L front) talks with a worker in an assembly shop of tunnel boring machine at China Railway Engineering Equipment Group CO., LTD in Zhengzhou, capital of central China's Henan Province, May 10, 2014. Xi made an inspection tour in Henan from May 9 to 10. (Xinhua/Ju Peng)


Chinese President Xi Jinping (2nd R) talks with representatives of local cadres and villagers in Zhangshi Township of Weishi County, central China's Henan Province, May 9, 2014. Xi made an inspection tour in Henan from May 9 to 10. (Xinhua/Zhang Duo)


Chinese President Xi Jinping (4th L) inspects the growth of wheat in Zhangshi Township of Weishi County, central China's Henan Province, May 9, 2014. Xi made an inspection tour in Henan from May 9 to 10. (Xinhua/Zhang Duo)

Editor :  Yao Jianing