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Hard landing fallacy "no way" in China: regulator
2016/03/06

BEIJING, March 6, 2016 (Xinhua) -- Xu Shaoshi, minister in charge of the National Development and Reform Commission, gestures during a press conference for the fourth session of China's 12th National People's Congress (NPC) on the country's economic and social development and the draft outline of the 13th Five-Year Plan in Beijing, capital of China, March 6, 2016. (Xinhua/Chen Yichen)

BEIJING, March 6 (Xinhua) -- The hard landing fallacy on China's economy will "no way" occur in China, a senior economic official said Sunday.

The Chinese economy is so resilient with relatively strong abilities to resist risks, Xu Shaoshi, who heads the National Development and Reform Commission, said on the sidelines of the annual parliamentary session.

"We are capable of keeping economic growth at rates within a reasonable range," Xu said. "We are confident of achieving that end."

China set the growth target at a range of 6.5 percent to 7 percent this year, and an average annual growth of above 6.5 percent for the next five years.

It had seen, for a quarter of a century, the slowest expansion of 6.9 percent in 2015, amid its structural adjustment and a fragile global recovery.

China's economic growth remains relatively fast among world major economies. The 6.9-percent growth was hard won given the sluggish global recovery, Xu said.

China accounted for a quarter of the world's economic growth in 2014, Xu said, citing data from the World Bank and China's National Bureau of Statistics.

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