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Xi says China will not experience a 'hard landing'

Updated: 2015-10-22 02:36
By Cecily Liu (China Daily Europe)

Xi says China will not experience a 'hard landing'

Chinese President Xi Jinping delivers a speech at the UK-China Business Summit in London Oct 21, 2015.[Photo/Xinhua]

China will continue to grow at a sustainable rate, and will not experience a hard landing, Chinese President Xi Jinping said in London on Wednesday.

China will continue to open its market to the world and actively participate in the global economy, so to create "win-win" partnerships, he said.

Xi was addressing an audience of several hundred business leaders in London at the UK-China Business Summit.

"China will not close the door it has opened. We are working to build a new system of an open economy and we will make renewed effort to make an open world economy".

In the next five years China is expected to import more than $10 trillion of goods, have more than $500 billion of overseas investment, and more than 500 million Chinese tourists will be expected to travel abroad, which presented enormous business opportunities, he said.

Xi also said that China will host the 11th G20 summit next year, which will be an opportunity to contribute more to global governance and world economic recovery.

Xi said that China's economic growth has been rapid in the past three decades, and the country will continue to open up its markets, scale up economic trade and investment, advance financial reform and liberalization in an active fashion, and participate in global economic governance.

"The Chinese economy will maintain its strong momentum and unlock even greater potential for development. There will be no hard landing. We will stay committed to the win-win strategy of opening up. Opening up is an important driver of Chinese sustainable growth," he said.

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