PBOC chief economist Ma Jun on the weekend:
- Said China’s slowing economy does not need any big stimulus, because the jobs market continues to be strong
- Said although the country’s overheated real estate sector is slowing sharply, he did not see a substantial net impact on jobs
There’s more at the article. Reading it makes my think he is trying to put a positive spin on economic developments there, but perhaps I am being too pessimistic. Its only a brief article, have a read and you decide.
Ma Jun also said:
- “I think the chance of a hard landing is very low”
- “Although we worry about some downside risk like the real-estate slowing down and so on, there are also growth engines, including the service sector in general, the Internet in particular … and healthcare is rising very rapidly.”
Added – more detail from here