(Bloomberg) -- President Xi Jinping said China’s economy is stabilizing and has improved noticeably, giving an upbeat assessment of the nation’s health despite the worsening trade war and recent weak data.
While the global economy and trade have slowed down, China’s economy has stayed in a reasonable range in 2019, with stable growth, increasing employment, rising incomes and stable prices, Xi said in an interview with Russian media including Tass. The interview was carried in the People’s Daily ahead of Xi’s visit to Russia, which starts Wednesday. China has “sufficient conditions, ability and confidence” to cope with various risks, Xi said.
The comments are the latest in a series of statements from the government that the economy is strong and can overcome any fallout from the prolonged trade tensions with the U.S. Xi’s government is grappling with slowing growth and fragile financial markets as well as the dispute with the U.S., which has damaged trade and confidence.
To contact Bloomberg News staff for this story: Yinan Zhao in Beijing at yzhao300@bloomberg.net
To contact the editors responsible for this story: Jeffrey Black at jblack25@bloomberg.net, James Mayger, Malcolm Scott
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