Chinese economy improves with debt risks under control
China's economy performed much better than expected during the third quarter and the Asian country's debt risks turn to be under strict control. That’s what reporters heard from Premier Li Keqiang in Macau on Tuesday.
Major economic indicators, including factory output, profits as well as investment, have already rebounded.
More than 10 million fresh urban jobs were generated during the first nine months, with the poll-based jobless rate falling below 5% in September. However, the Chinese economy still experiences downward pressure.
China will be able to meet its key economic objectives this year and maintain medium- to high-speed growth.
The Chinese government is aiming for annual economic growth of about 6.5-7% this year, compared with 6.9% last year, the slowest expansion in a quarter of a century.
The economy ascended 6.7% during the first half, backed by higher government infrastructure spending, to say nothing of a housing boom. Additionally, on October 19, the National Bureau of Statistics is expected to publish third-quarter economic data.