Chinese Prime Minister: Our Economy Will not Fall!

China has the ability to keep the economy from the threat of a hard landing or a freefall. This optimism was expressed by Prime Minister Li Keqiang in today's World Economic Forum in Dalian city.

One way to protect the domestic economy is to make room for the central bank to carry out its mandate. People's Bank of China has received permission to invest in the interbank money market. The central bank will also cross-border payment system based Yuan before the end of 2015. In July, China had already given permission and the central banks of foreign investment banks to enter the domestic bond market.

The commitment came after the Chinese premier out evidence of economic slowdown in Asia's largest country. Economists worry that China is not able to meet the growth target of 7% per year in the absence of a new stimulus. However, with confidence, Prime Minister Li reiterated that his country's economy will not fall sharply. "China will not experience a hard-landing," he added in the presence of business and economics. Furthermore, he leaked the plan to change its policy in order to boost the volume of imports in domestic demand.