China’s Economy Is Not Collapsing, Regulatory Official Says
Markets and investors should not overreact to the economic slowdown in China, a senior Chinese regulatory official said on Tuesday, after a government report showed the world’s second-biggest economy saw its weakest expansion in almost three decades in 2018.
Growth will moderate to around 6% in 2019 from 6.6% last year but the slowdown is not a “collapse” and the government can and will use fiscal and monetary policy to support the economy, Fang Xinghai, a vice chairman of the China Securities Regulatory Commission, said at the World Economic Forum in Davos, Switzerland.
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