23-8-2023 (BEIJING) Chinese President Xi Jinping assured the BRICS group on Tuesday, during a summit held in South Africa, that China’s economy remains resilient and its long-term growth prospects unchanged.
President Xi, attending the gathering of Brazil, Russia, India, China, and South Africa, made this declaration through a prepared statement delivered by Chinese Commerce Minister Wang Wentao at a business forum.
Xi’s statement, conveyed by Wang, highlighted the robust nature of the Chinese economy, emphasizing its substantial potential and enduring vitality. While it’s true that China’s economic recovery has faced headwinds, including a challenging property market, sluggish consumer spending, and a decline in credit growth, Xi underscored the nation’s economic advantages.
Among these advantages, he mentioned China’s enormous market size, a well-established industrial system, and a highly skilled workforce. These factors, according to Xi, position China to navigate through current challenges and continue on its path of economic growth.
In his words, “The giant ship of the Chinese economy will continue to ride the wind, cleave waves, and forge ahead.”
Meanwhile, on the same day, the United States criticized China for diminishing the transparency of its economic data reporting over recent months. The U.S. also expressed concern about China’s crackdown on firms within its borders that were previously providing such economic data. The U.S. referred to these actions as irresponsible.
