Chinese President Xi Jinping: there will be "no hard landing" in China despite the downward pressure

Market news

22 October 2015

Chinese President Xi Jinping: there will be "no hard landing" in China despite the downward pressure

Chinese President Xi Jinping said during a state visit to the U.K. that there will be "no hard landing" in China despite the downward pressure.

"The Chinese economy does face some downward pressure and structural problems, but such adjustments look inevitable when the economy reaches a certain stage after years of high growth," he said.

Xi noted that the economic development in China is "a new normal".

The People's Bank of China (PBoC) and the Bank of England (BoE) agree to renew the existing reciprocal sterling/renminbi currency swap line

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