BEIJING: Allaying concerns over slowing down of Chinese economy due to a decline in exports, President Hu Jintao has expressed confidence that the world's second largest economy will maintain steady and robust growth to make contribution to global economic progress.
"China's economy has maintained stable growth," Hu told Mexican newspaper Reforma prior to the G-20 summit to be held in Los Cabos.
"Facing a complex and grave external economic environment, China has taken targeted measures to strengthen and improve macroeconomic regulation, accelerate the shift of the growth model, adjust economic structure and build long-term mechanisms to boost domestic demand," he said.
These efforts are made to ensure that China's economy is driven by both consumption, investment and export so as to ensure steady and robust growth and maintain social harmony and stability, Hu, also General Secretary of the ruling Communist Party of China, said.
According to Hu, in the first quarter this year, China's GDP grew by 8.1 per cent and the share of its current account surplus in GDP fell to 1.4 per cent.
"China has thus made important contribution to global economic recovery and growth," he said ahead of the G-20 Summit, which is taking place in the shadow of the economic crisis in the Eurozone.
China's economy grew by 9.2 per cent last year. It was expected to slow down to 8.5 per cent this year, according to Asian Development Bank.
The Chinese government has fixed 7.5 per cent as the GDP target. Exports, the mainstay of China's economy showed considerable slow down in the recent months due to crisis in EU and US. Hu said that China's economy is an integral part of the global economy.
indiatimes.com
"China's economy has maintained stable growth," Hu told Mexican newspaper Reforma prior to the G-20 summit to be held in Los Cabos.
"Facing a complex and grave external economic environment, China has taken targeted measures to strengthen and improve macroeconomic regulation, accelerate the shift of the growth model, adjust economic structure and build long-term mechanisms to boost domestic demand," he said.
These efforts are made to ensure that China's economy is driven by both consumption, investment and export so as to ensure steady and robust growth and maintain social harmony and stability, Hu, also General Secretary of the ruling Communist Party of China, said.
According to Hu, in the first quarter this year, China's GDP grew by 8.1 per cent and the share of its current account surplus in GDP fell to 1.4 per cent.
"China has thus made important contribution to global economic recovery and growth," he said ahead of the G-20 Summit, which is taking place in the shadow of the economic crisis in the Eurozone.
China's economy grew by 9.2 per cent last year. It was expected to slow down to 8.5 per cent this year, according to Asian Development Bank.
The Chinese government has fixed 7.5 per cent as the GDP target. Exports, the mainstay of China's economy showed considerable slow down in the recent months due to crisis in EU and US. Hu said that China's economy is an integral part of the global economy.
indiatimes.com
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