The power of “mass entrepreneurship and innovation” will ensure China’s economy avoids a hard landing, its premier Li Keqiang told the World Economic Forum in Davos, but growth will be slower in future.
Coming the day after Asia’s most important economy posted its lowest growth rate in24 years, the premier’s statement indicated the government would not repeat the stimulus measures of 2008-09 and seek growth through market reforms.
After a year of often rising tensions with its neighbours, Mr Li also stressed that China’s economic future should be seen as an opportunity for other countries and overseas companies and it had no intention of competing for global supremacy.
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