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Chinese economy entering new ‘normal’ period

| 2014-11-20 | Hits:

“China’s GDP growth rate this year is estimated to reach 7.4 percent, situating within the reasonable interval around the expected goal of 7.5 percent. We are still optimistic for a growth rate around 7 percent next year,” said Yu Bin, director-general of the Department of Macroeconomic Research of the China’s Development Research Center of the State Council on October 24. Referring to China’s macroeconomic situation, Yu stated that 2015 and 2016 will be the window period for Chinese economy to be transformed to the “new normal.” In this transformation process, it is important to keep a stable macroeconomic policy, Yu said. In the face of pressure resulted from short-term growth slowdown, it is no good to substantially alter the macroeconomic policy, he added. Yu said stable macroeconomic policy is necessary for a favorable environment for economic transition and structural adjustment.

Chinese economy entering new ‘normal’ period

The Chinese link: http://finance.ifeng.com/a/20141025/13217394_0.shtml
 Translated by Du Mei
  Revised by Tom Fearon