According to Chinese National Development and Reform Commission, there will be no hard landing for the China’s economy. The Chairman of the Committee, Xu Shaoshi, mentioned that Chinese economy will take the heat but will be able to cope with it. Shaoshi agreed that the risks shouldn’t be underestimated. Special focus will be on the market fluctuations and the price decrease on some basic commodities. The Chinese government is ready to take all the necessary measures in order to keep the economic growth at the level of the past year and prevent the further decline.
The Chairman of the Committee underlined that there is no chance the Chinese economy will see a hard landing. It was announced earlier by mass media that the Chinese government forecasted GDP growth by 6.5%-7% this year. It should be mentioned that last year’s results became the worst for the Chinese economy for the last 25 years.
