ADB expert upbeat on economic management
China's recent economic moderation is a natural consequence of its economic restructuring, and the country's solid growth momentum remains uninterrupted in the longer term, Asian Development Bank Chief Economist Yasuyuki Sawada said on Sunday.
Beijing is doing the right things to maintain financial stability and control cross-border capital flows, Sawada told China Daily in an exclusive interview on the sidelines of the bank's annual meeting.
China's year-on-year GDP growth fell to 6.9 percent in 2015, dropping below 7 percent for the first time since 1991, and it dipped further to 6.7percent last year.The country is rebalancing its economy from external, export-driven and manufacturing production-based, to more internal, consumption-based, and it is shifting its focus from the manufacturing to nonmanufacturing sectors, which has contributed to the moderation in recent years, Sawada said.
