You could say China is actually 20 percent richer than anybody initially thought.
More Quotes from Qu Hongbin:
China has emphasized that they do not want to make the currency issue into a political issue, which means that China will continue to hold dialogue with trading partners to search for proper solutions, and the exchange rate is not necessarily the only means to do that,Qu Hongbin
The government has to spend more on education, healthcare and pensions to take the burden off individuals and give them more confidence to spend.
Qu Hongbin
Given the evidence of deteriorating investment efficiency, China needs to rebalance its growth by shifting away from investment toward consumption.
Qu Hongbin
It's a challenging task but that shouldn't be an excuse for China not starting on it right now.
Qu Hongbin
This slowdown, together with new capacity, is likely to have a material impact on global demand for commodities over the next two years,
Qu Hongbin
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