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President Xi Jinping Gives Joint Written Interview To Media from Indonesia and Malaysia (on China's ecomony)
2013-10-08 20:45

Recently, with the occurrence of fluctuations in the financial markets of some emerging economies in the Asia Pacific, uncertainties in economic growth have been on the rise. At the same time, the Chinese economy has slowed down. These have led to rising concerns on the part of the international community about the economic outlook in the Asia Pacific and economic downturn in China. What is your view on this?

The recent financial fluctuations in some emerging economies in this region are largely caused by external factors, which have affected market expectations and led to withdrawal of international capital. We call on major developed economies to adopt responsible macro economic policies so as to avoid negative spillover effects. At the same time, emerging market economies also need to enhance risk preparedness and resistance capabilities. It is important to stress here, however, that the shared desire of the Asia-Pacific region for peace, stability and development has remained unchanged; that the historical trend of a rising Asia Pacific in the world both politically and economically has not changed; and that the driver and potential dynamism for a sustained and rapidly growing Asia-Pacific economy has not changed.

We have reasons to believe that the Asia-Pacific region has a bright future. All APEC members should work steadily to ensure that the region will continue playing its leading role in a full recovery and healthy growth of the world economy.

In the first half of this year, China's economy registered a year-on-year growth of 7.6%, slightly lower than previous months. The Chinese government has, of its own accord, introduced measures of readjustment. We made a determined decision to stabilize growth, readjust the structure and deepen reform. No longer taking GDP as the sole measurement of success, we are focusing more on the quality and efficiency of growth. The measures of readjustment and transformation today are aimed at achieving a growth tomorrow that is sounder, more sustainable and of even higher quality.

Comparatively speaking, China's growth is not slow. It is perhaps among the fastest in the Asia Pacific and even the world. The Chinese government has full confidence in achieving a sustained and sound economic development. A Chinese economy that is on track of sustained and sound growth will inject fresh impetus to global economic recovery and make greater contribution to the common development and prosperity of the Asia Pacific.

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