China People’s Daily reports on comments from Liu Shijin, deputy head of the Development and Research Center under the State Council:
- Current economic growth is in line with its potential growth rate and there is no need to be negative on China’s growth outlook
- Says there are increasing signals that the Chinese economy is bottoming out
- He cites the fast growing service sector, strong labor force demand and improving external demand
- Warned traditional investment growth is expected to slow further this year
- Sees more risks exposed by the property sector and over-capacity industries
- Said the government will expand the role of policy banks to boost public housing and infrastructure investment growth so it won’t further increase the debt burden of local governments.
via MNI
