Home / Knowledge / News / Textiles / 'Chinese economy has problems, but functioning well'
'Chinese economy has problems, but functioning well'
01
Aug '15
As China's economic slowdown sparks concerns at home and abroad, President Xi Jinping has conceded that the economy is facing "some problems" but insisted that it is functioning well in general, the media has reported.

"China's economy is functioning well in general, with some problems remaining that require the wisdom of all and solid efforts," Xi has been quoted as saying by state-run Xinhua news agency.

All regions and departments have made innovative efforts in strengthening macro control and reforms since the beginning of this year, leading to deeper structural adjustment, a generally normal employment situation and stable society, Xi said at a symposium held with non-Communist figures last week.

The ten non-Communist figures, including members of other political parties or influential researchers and scholars, agreed with the central government's analysis and decisions on China's economic development, the Xinhua report said.

To ensure that the economy can sustain a "reasonable" pace of growth, the Politburo reiterated the government's line that it would keep economic policies broadly stable, while increasing targeted adjustments.

The Communist Party of China pledged to take "effective measures" to nurture the steady growth of consumption, investment and exports, key engines driving the country's economic expansion.

Chinese policymakers have in the past two years described any loosening in fiscal and monetary policy, including reductions in interest rates, as "targeted".

Fiscal policy would be "pro-active" and liquidity kept at an "appropriate" level, state radio quoted the Politburo as saying.

There was no reference to the rout in China's stock market which plunged 8 per cent on Monday after a recent meltdown that wiped out as much as a third of share value at the height of the selloff.

Buffeted by a slowing property market, cooling investment growth and unsteady local and foreign demand, China's economy has stumbled in the past two years and is widely expected to clock its worst performance in a quarter of a century this year.

The International Monetary Fund (IMF) in its recent forecast said China's economy will slow down to 6.8 per cent this year followed by 6.3 per cent in 2016 and six per cent for 2017. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

East India can draw Rs 30,000 cr in petrochem  by 2030

Textiles | On 21st Nov 2017

East India can draw Rs 30,000 cr in petrochem by 2030

East India has the potential to attract Rs 30,000 crore investments...

Egypt’s textile exports increase 3% in 10 months: TEC

Textiles | On 21st Nov 2017

Egypt’s textile exports increase 3% in 10 months: TEC

Exports by Egypt’s Textile Export Council (TEC) between January and...

UKFT turns sector skills body for UK fashion, textile sector

Textiles | On 21st Nov 2017

UKFT turns sector skills body for UK fashion, textile sector

The UK Fashion & Textile Association (UKFT) recently announced at a...

Interviews View All

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

November 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search