Quotable

With housing prices in first- and second-tier cities going up, the property market seems to be well on the road to recovery. However, it is still far from a complete recovery, because China's housing market has entered a stage of oversupply, and a housing boom has no foundation at all."

Wang Jianlin, chairman of Dalian Wanda Group

"Although GDP growth in the first and second quarters was 7 percent, various aspects like power indicators, rail freight volume growth and enterprises' circumstances tell us clearly that the nation's economy is sliding."

Xu Xiaonian, professor of economics and finance at the China Europe International Business School in Shanghai

"The RMB's inclusion in the International Monetary Fund's special drawing rights basket has little tangible and immediate economic benefit for China. The SDR is rarely used by the global financial markets and no country would manage foreign exchange reserves modeled by the SDR."

Liu Ligang, chief economist for Greater China at the Australia and New Zealand Banking Group

(China Daily European Weekly 08/14/2015 page18)