China's economic growth to remain above 5% in next decade: PBOC ex-governor

Updated 2018-04-09 16:46:25 Ecns.cn

(ECNS) - Dai Xianglong, former governor of the People's Bank of China (PBOC), said China's economy can maintain an effective growth rate of around 6 percent in the next 10 years.

Speaking at the Boao Forum for Asia annual conference, Dai stated even a conservative estimate puts the figure above 5 percent, economic news site caixin.com reported. [Special coverage]

"China has maintained an annual average growth rate of 7.9 percent in the past four decades since opening up and reform in 1978, and 6.9 percent on average in the last five years. This is in no way a recession or a sign of an economic cycle," said Dai, adding that the decline is actually due to a proactive, effective economic adjustment strategy.

Dai also said China's economic growth has slowed but the country has seen general progress from a technical or economic result perspective.

"We don't pursue speed for speed's sake alone and instead want a quality-oriented speed," he explained.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58May 28 2018 16:08:33

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16May 28 2018 16:08:33

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18May 28 2018 16:08:33

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords