China / Government

China capable of maintaining healthy growth, spokesman says

By Wang Yanfei ( Updated: 2016-03-02 20:03

China is well capable of maintaining sustainable and healthy growth, the spokesman of the top political advisory body said on Wednesday.

"China is well-equipped to stay on the path of maintaining medium- to high-rate growth," said Wang Guoqing, spokesman for the fourth session of the 12th Chinese People's Political Consultative Conference National Committee, at a press conference ahead of the annual session.

"The economy is gradually picking up at the beginning of this year," he said.

"Even though China experienced a 6.9 percent growth rate last year, the country has not lost its growth momentum," Wang said, noting that there has been progress on rebalancing the economy, where the service sector has become the new engine driving economic growth.

Wang said the solid economic foundation and continued structural reform is able to keep the economy growing.

The latest data provides a snapshot of the economy that is resilient with great potential for future growth, according to Wang.

Official data shows that the producer price index (PPI), an indicator for wholesale inflation, dropped to 5.3 percent in January, easing from the 5.9-percent contraction seen from August to December.

Despite difficulties, Wang stressed that the economy "will not see a hard landing," in response to queries and concerns over whether the economy will experience a sharp slowdown.

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