NUSA DUA, Indonesia, Oct 7 (Reuters) - Chinese President Xi Jinping said on Monday he expected a “tortuous process” of world economic recovery, while China’s current economic growth rate was “within a reasonable and expected range”.
Speaking on the sidelines of the Asia-Pacific Economic Cooperation leaders summit in Bali, Indonesia, Xi said, “I‘m fully confident in the future of China’s economy.”
China’s GDP grew at 7.6 percent for the first half of 2013, slower than in previous years.
Xi brushed aside concerns of a hard landing for the Chinese economy, however, saying “(A) seven percent annual growth rate will suffice.”
He added, “The slowdown of the Chinese economy is an intended result of our own regulatory initiatives.”