Li Wei, director of the Development Research Center of the State Council
(The State Council is China's Cabinet)
- Risk of a steep slide in China's economy has reduced
- China has moved through an "L-shaped" pattern of slowing
- Now in "horizontal" growth ... points to long-term steady development, may be short-term fluctuations
- Many positive economic signs emerging domestically & internationally
- Economic transformation is incomplete, still difficulties in the economy
via Reuters
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China has been making efforts to cool price growth in the housing market, slow new credit & tighten fiscal support
