We'll tough it out as growth slows

Advisers urge support for innovation and say government should not launch stimulus policy

The economy is tough enough to adapt to a lower growth rate without suffering a sharp slowdown provided there is sufficient support for innovative industries, some of the country's policy advisers said on Monday.

"The government and enterprises have the ability to transform the development model in line with market changes, but the government should leave room for the market to self-adjust," said Qian Yingyi, dean of the School of Economics and Management at Tsinghua University and a member of the Chinese People's Political Consultative Conference.