Ratings view shrugged off by minister

He said the main economic indicators have improved since the start of the year and if this trend continues, the Chinese economy will get through its difficulties.

The country's year-on-year GDP growth was 6.9 percent last year, the slowest since 1990. But data from the first two months of this year, such as fixed-asset investment, point to an initial stabilizing in economic activities.

Meanwhile, the economic structure has become more balanced, with consumption and the service sector replacing investment and industry to become the largest contributors to growth.

Political leaders, entrepreneurs and scholars taking part in the forum said the economy will remain sound if it can push forward with its restructuring and reform agenda in the medium and long term.

Dennis Nally, chairman of PricewaterhouseCoopers, said on the sidelines of the forum, "If you believed in the potential of China 12 months ago, the fact that it hit some bumps, which I believe are all short term, shouldn't impact your view on the long-term potential of the economy".

Contact the writer at chenyingqun@chinadaily.com.cn