Business / Economy

China's reforms 'quite positive' for global growth

(Xinhua) Updated: 2015-03-05 10:31

PARIS -- The effects of China's reforms would be "quite positive" for global growth, John Paul Betbeze, economic adviser at Deloitte France, said Wednesday.

In an interview with Xinhua, Betbeze noted that China's economic slowdown was the result of a change in the Chinese business model and a slowdown in global economy that hampered activities, mainly of exporting countries, such as China.

However, "China's growth remains high," he said, adding the booming Asian economy was moving from the first successful battle of growth to that of harmony, which means a struggle to have national wealth based on domestic consumers and local demand.

Betbeze said China's economic transition would be fruitful in the medium to long term, with Chinese reforms set to create more opportunities in various markets.

In 2015, Betbeze recommended not to overstate the risks of the Chinese economy despite of some hurdles that could curb growth.

In 2014, China's gross domestic product (GDP) rate was 7.4 percent on a yearly basis, a record low in nearly a quarter century, which spurred overseas concerns about the economic development of the world's second largest economy.

In its recent estimates, the International Monetary Fund (IMF) revised down China's growth rates to 6.8 percent and 6.3 percent for 2015 and 2016, respectively.

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