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'New Normal' is not bad for China, says Dutch reporter

By Hu Zhe (chinadaily.com.cn)

Updated: 2015-03-06 19:30:45


'New Normal' is not bad for China, says Dutch reporter
Oscar Garschagen

Oscar Garschagen, from NRC Media, the Netherlands, shares his views during China's two sessions.

Is this the first time you cover China's two sessions?

- No, this is the seventh time. I started in 2007.

Have you noticed any major change in this year's annual sessions?

- It is a bit quieter this year. It has to do with the whole situation in China, it is like a plane, the plane has taken off and it is cruising at a certain altitude, with some turbulence ahead. Like Premier Li Keqiang said yesterday "we have turbulence ahead", that makes it very interesting.

How do you interpret the concept "new normal"?

- The new normal is not too bad for China, because the high economic growth in the past created all kinds of bubbles, now China is in a much more transformational phase.

Transformation in the domestic economy is good for the rest of the world. It creates all kinds of opportunities, it leads to new kinds of Chinese companies worldwide, it leads to the export of Chinese foreign investments, in general that is good for the world's economy.

Any particular areas you are interested in?

- How China deals with reforms, especially in the financial and economic field, for example, the creation of the Shanghai free trade zone, that is big in the news, but for foreign companies, it is a vague concept, it is interesting to see where it goes. Also other reforms, land reform, SOE reform, on the surface, a lot of things are announced, but the question is, what happens in reality?