More on President Xi Jinping saying China needs to adapt to a “new normal” in the pace of economic growth

I posted earlier on comments reported over the weekend: Chinese President Xi Jinping: Needs to adapt to a “new normal” in the pace of economic growth

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,”

China. org say:

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

More at the link.

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Note it also contains more detail of the headlines I had on Sunday, here: PBOC head says China will not use any large-scale stimulus to boost its economy

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.