New Chinese Finance Minister: "China Still the Engine of Global Growth"

"Positive Trend Expected to Continue in Q4"

China's new Minister of Finance stated at the Asia-Pacific Economic Cooperation (APEC) Finance Ministers' Meeting that the Chinese economy is expected to maintain a positive trend in the fourth quarter.

Minister Lan Foan said on the 13th (local time), "Since the beginning of this year, the Chinese economy has continuously rebounded and improved," adding, "Especially after the third quarter, positive changes have increased further, and the driving forces behind the rebound and improvement in the fourth quarter are continuously strengthening."

[Image source=Reuters Yonhap News]

Minister Lan emphasized, "Currently, the momentum of the global economic recovery is unstable, and trade and investment have weakened, making it difficult to implement sustainable development tasks," while stressing, "China still remains an important engine for stable growth of the global economy."

He stated, "Promoting supply-side structural reforms is the only way to achieve high-quality development," and highlighted, "China is actively implementing the spirit of President Xi Jinping's speech at the Belt and Road Forum and is advancing eight measures for the high-quality joint construction of the Belt and Road Initiative to support the supply of the Asia-Pacific economy."

At the meeting, Minister Lan met individually with U.S. Treasury Secretary Janet Yellen, Indonesian Minister of Finance Sri Mulyani Indrawati, Australian Treasurer Jim Chalmers, and others.

This content was produced with the assistance of AI translation services.