Chinese President Xi Jinping said the government opted for slower growth this year to allow it to adjust the structure of the nation’s economy.
China would “rather bring down the growth rate to a certain extent in order to solve the fundamental problems” hindering long-run development, Xi said in a written interview yesterday with media outlets from Russia, Turkmenistan, Kazakhstan, Uzbekistan and Kyrgyzstan, according to a transcript distributed by the official Xinhua News Agency.
Xi and his leadership team, who took office in a transition completed in March, are preparing for a Communist Party meeting in November that may add clarity on how they will try to sustain growth of 7 percent this decade. Data this week showed manufacturing strengthened last month, adding to signs that China will meet its 7.5 percent expansion target this year.
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