Chinese economy growing at a reasonable speed: economist

Email|Print|Comments       twitter     facebook     Sina Microblog     reddit    

China's economy is expanding at a reasonable speed but the country's conditions mean double-digit growth rates will not be seen, said Fan Jianping, chief economist with the State Information Center, a government think-tank.

As long as the growth rate is above 7 percent, it can be called a normal performance, Fan told a Ministry of Foreign Affairs press conference on Wednesday.

If China's economic growth rate remains between 7 and 9 percent, there will not be serious inflation or deflation, and the job market will be satisfactory, Fan said.

The Chinese economy had the potential for double-digit growth rates since the country's reform and opening-up in 1978 and before the outbreak of the global financial crisis in 2008, he said.

But after 30 years of boom, growth potentials have dwindled as China's economy has entered a new phase of restructuring, he said.

Though the economic growth rate has slowed, its quality and efficiency have improved, he said.

China's economy grew 7.6 percent in the first half of 2013 from a year earlier.

• Broadband blueprint to facilitate China's economic restructuring
• Internet industry optimism to buoy China's economy?
• Changing economy needs new approach to stimulus
• Overcapacity is economy's biggest problem: survey
• China sends strong signal of 'deep-water' reform
• Commentary: China's economic growth slows to steadier pace
• 'Bernanke shock' necessary
• French consumers less confident in general economy in June: Insee

We Recommend

• Premier Li: We rely on farmers for a living
• Floods force evacuation of 80,800 people in NE China
• University's artistic graffiti tunnel attracts visitors
• Enjoy your time in Maldives
• Beijing Int'l Gifts, Premium & Houseware Exhibition opens
• Highlights of Guangdong Fashion Week