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Growth drop is not a cause for alarm, minister says

Updated: 2014-02-24 08:04
By Zheng Yangpeng ( China Daily)

Weaker role of manufacturing is 'positive sign for economy'

Finance Minister Lou Jiwei has dismissed concerns that recent data showing a weakening manufacturing sector indicate a possible deep slide in the country's economic growth, saying a strengthening service sector points to a "reasonable restoration".

Responding to worries of a hard landing for China at a time of fragile global recovery, the outspoken minister said over the weekend that the past rapid expansion of China's manufacturing industry was "unsustainable".

Growth drop is not a cause for alarm, minister says

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