World

Xi Jinping Says China’s Economy Is Resistant At BRICS Summit

On Tuesday, China’s President Xi Jinping told the BRICS group that the Chinese economy was resilient and that the fundamentals for long-term growth were unchanged.

Xi, who is in South Africa for a BRICS (Brazil, Russia, India, China, and South Africa) meeting, made the statements in a prepared statement read aloud at a business forum by Chinese Commerce Minister Wang Wentao.

“The Chinese economy has strong resilience, tremendous potential, and great vitality”, Xi stated.

The recovery in the world’s second-largest economy has stalled as a result of a worsening property downturn, lacklustre consumer spending, and falling credit growth, strengthening the case for authorities to unleash additional policy stimulus.

Xi, on the other hand, said that his country has economic advantages such as a ‘super-sized market’, a full-fledged industrial system, and an abundant high-calibre labour force.

“The giant ship of the Chinese economy will continue to ride the wind, cleave waves, and forge ahead”, stated Xi.

The United States criticised China on Tuesday for lowering the transparency of its reporting on fundamental economic data in recent months, as well as for cracking down on Chinese enterprises that provided such data, calling its behaviour irresponsible.

Also read: At G20 Meeting In India Next Month, Joe Biden To Promote IMF And World Bank Reforms

Spriha Rai

Recent Posts

Pakistan’s Digital Frontline: Jokes, Memes And Savage Self-Roasts

While tensions between India and Pakistan escalate post the tragic Pahalgam terror attack, something unexpected…

4 hours ago

Reliance Industries Q4 Net Profit Rises 6.4% As Retail And Digital Units Offset Energy Weakness

Reliance Industries delivered a strong Q4 FY25 performance, with Y-o-Y net profit rising 6.4% to…

4 hours ago

Yash Pratap Singh And Mehak Jaiswal Top UP Board Exams With Outstanding Scores

Yash Pratap Singh of Jalaun tops Class 10 with 97.83%, while Prayagraj’s Mehak Jaiswal secures…

4 hours ago

Yogi Adityanath Calls For Reforms To Make Madrasa Education Modern And Employment-Oriented

Chief Minister Yogi Adityanath on Friday emphasised the need for sweeping reforms in the madrasa…

5 hours ago

Tulsi Gabbard Backs India’s Hunt For Pahalgam Terror Attack Perpetrators

United States Director of National Intelligence (DNI) Tulsi Gabbard on Friday expressed strong support for…

6 hours ago

World Leaders Head To Rome For funeral Of Pope Francis

Indian President Droupadi Murmu will also attend, representing India alongside Union Minister Kiren Rijiju, Minister…

7 hours ago