Adjustments to ensure economy stays on track
China's proactive strategy adjustments, to offset adverse impacts from trade tensions, could lead the economy to a safe zone, as experts pin their hopes on new technology and domestic consumption.
The external headwinds, fueled by the latest US move to apply tariffs on an additional $200 billion worth of Chinese exports will encourage China to accelerate economic strategy transition. The economic driving force will shift at a faster pace to consumption, especially in less-developed regions, said experts at the World Economic Forum's Annual Meeting of the New Champions 2018, in Tianjin.
"The country's economic outlook is still positive, as undeveloped rural areas could provide large potential to boost consumption. And we see great investment potential in that way," Wang Tuanwei, chief financial officer and vice-president of China Minsheng Investment Group, said at the forum on Thursday.
