Hu Pledges More China Imports as IMF’s Zhu Sees ‘Soft Landing’
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China’s President Hu Jintao pledged to boost imports as the world’s second-biggest economy heads for what the top Chinese International Monetary Fund official said was a successful downshift from inflationary growth.
IMF Deputy Managing Director Zhu Min and China’s National Economic Research Institute Director Fan Gang yesterday told the Asia Pacific Economic Cooperation forum in Honolulu that the economy was heading for a “soft landing” as growth slows. They cited lower inflation and less bad debt at banks, and what Fan said were timely measures to avoid a property market bubble.