China contributes about 30 per cent to global growth in first half of 2015

Chisinau, 15 September  /MOLDPRES/ -  China's steady economic development has benefited the world, with the country contributing 30 per cent to global growth in the first half of this year, Chinese Prime Minister Li Keqiang said at the Summer Davos Economic Forum, held in Dalian, China, on 9-11 September.  

China's economy recorded an 7-per cent yearly growth of in the second quarter of 2015, slightly above the estimations of analysts and at the same level with the first three months of this year.  The Beijing Government expects an about 7-per cent increase in the Gross Domestic Product (GDP) in 2015, that would represent the weakest pace of growth over the last 25 years. 

"Because we are talking about a US$ 10 trillion economy, for which 7% growth actually generates more increase in volume than the double-digit growth in the past," the Chinese prime minister said. 

Li Keqiang said that a lower or higher speed of economic growth was acceptable as long as the creation of jobs and the people's income were on a positive trend and the economic environment was improved. Despite the moderation in speed, the performance of the Chinese economy is stable and moving in a positive direction. China invigorated the economy mainly through deepening reform. Although difficulties remain, there are more opportunities than challenges, the Chinese prime minister said.

Li excluded the possibility that the Chinese economy would head for a "hard landing", stressing that the government's policies started entering into force and the economic indicators had improved in the past months. "We are capable of meeting the main goals and tasks set for economic and social development this year, and this will lay a solid foundation for sustainable growth in the years to come," the official said.

The government tries to re-balance the country's economy from a model based on exports and cheap goods to one fueled by more innovation and internal demand.

"The fundamentals underpinning a stable Chinese economy have not changed," the prime minister of China said. "We will be fully capable to deal with the situation once signs indicate that the economy is sliding out of the reasonable range. China will not head for a "hard landing." China is not a source of risks for the world economy but a real source of strength for world economic growth." 

(Reporter V. Bercu, editor A. Raileanu)