CCTV9英语新闻：China's economic planner expects no hard landing

China's top economic planner believes there is no chance the country will suffer from the recent slowdown. On the sidelines of the annual National People's Congress, Xu Shaoshi -- who heads the National Development and Reform Commission -- said China is fully capable of keeping economic growth at rates within a reasonable range.

 

The NDRC chief Xu Shaoshi eased concern over China's growth prospects. Xu said the Chinese economy is very resilient, with the capacity to avoid taking risks. He added that market demand is huge and there is still great potential for development.

 

"We are full of confidence in the prospects for growth, I can say that the Chinese economy will absolutely not have a hard landing," Xu said.

 

When announcing the key goals of China's 13th five-year plan on Saturday, Premier Li Keqiang said the country's average annual growth rate for the next five years will be above 6.5 percent. China's GDP and per capita income in 2020 will be double that of 2010, with GDP exceeding 90 trillion yuan. Science and technology will contribute to about 60 percent of economic growth. And 50 million new jobs will be created. China's urban population will rise to 60% of the total. 50 million people will be lifted out of poverty in the next five years. And 90 percent of the population will be covered by basic endowment insurance.

 

"The plan thoroughly applies the new development concept and will lead the economic new normal," Xu said.

 

China was one of the fastest growing economies in the world last year -- with a growth-rate of 6.9 percent.

Xu said in terms of its growth rate, import volume, and outbound investment, China has made a great contribution to the global economy.