Chinese Economic Reforms

Structural reforms remain key to ensuring a steady 8 per cent growth in medium term for the Indian economy, Standard and Poor's Global Ratings said on Wednesday, even as it saw India remaining largely insulated from ups and downs of Chinese economy.

Government must focus on structural reforms to put the country on the path of faster economic growth, as the "several reforms" implemented so far may not be enough in a fast-changing world, says a new research report.

Dismissing reports about India becoming the "new growth engine of world economy", Chinese state media today said Prime Minister Narendra Modi's economic reforms have achieved "little progress" and asserted that the Chinese economy was five times bigger than the Indian economy.

China has reached a "point of no return" and the country has to now rely on innovation and reforms rather than depend on investment alone for economic growth, a top official of a Chinese bank said on Thursday.

The impact of China's economic slowdown on India will be largely dependent on how the country proceeds on policy reforms, NITI Aayog Vice Chairman Arvind Panagariya has said amid the perception that Indian economy can gain from the deceleration of the Chinese economy.

Chinese President Xi Jinping added his voice today to officials trying to reassure the world that the government was still firmly committed to financial reform following criticism of its intervention to steady rocky markets and boost growth.

In a meeting with Chinese Finance Minister Lou Jiwei here at the G20, Lew said he was closely monitoring China's recent economic policy actions, including the shift in its exchange rate regime.

The weak performance will add to the debate over whether Beijing needs to roll out more support measures to avert a sharper economic slowdown or fast-track market reforms to stimulate demand - or both.

Beijing is increasingly concerned about the risk an onset of deflation would pose to an economic recovery that has failed to gain traction despite a swath of reform initiatives intended to restore investor confidence and respark productive business investment.

China will likely stick with this year's growth target of 7.5 per cent for 2014 as top leaders balance the need to keep the economy on an even keel while pushing through necessary structural reforms, sources at top government think tanks said.

China's leaders are expected to gather at a closed-door meeting next week to set policy and reform priorities for 2014,

When a court in a coastal province renders its verdict against disgraced Chinese leader Bo Xilai in a trial that appears imminent, it could also decide the pace of economic reforms planned by the new government of President Xi Jinping.

Chinese Premier Li Keqiang said on Sunday ensuring economic growth was the top priority for his government, pledging to fight graft, tackle vested interests and calling for an end to a cyber-hacking row with the United States.

Structural reforms remain key to ensuring a steady 8 per cent growth in medium term for the Indian economy, Standard and Poor's Global Ratings said on Wednesday, even as it saw India remaining largely insulated from ups and downs of Chinese economy.

Government must focus on structural reforms to put the country on the path of faster economic growth, as the "several reforms" implemented so far may not be enough in a fast-changing world, says a new research report.

Dismissing reports about India becoming the "new growth engine of world economy", Chinese state media today said Prime Minister Narendra Modi's economic reforms have achieved "little progress" and asserted that the Chinese economy was five times bigger than the Indian economy.

China has reached a "point of no return" and the country has to now rely on innovation and reforms rather than depend on investment alone for economic growth, a top official of a Chinese bank said on Thursday.

The impact of China's economic slowdown on India will be largely dependent on how the country proceeds on policy reforms, NITI Aayog Vice Chairman Arvind Panagariya has said amid the perception that Indian economy can gain from the deceleration of the Chinese economy.

Chinese President Xi Jinping added his voice today to officials trying to reassure the world that the government was still firmly committed to financial reform following criticism of its intervention to steady rocky markets and boost growth.

In a meeting with Chinese Finance Minister Lou Jiwei here at the G20, Lew said he was closely monitoring China's recent economic policy actions, including the shift in its exchange rate regime.

The weak performance will add to the debate over whether Beijing needs to roll out more support measures to avert a sharper economic slowdown or fast-track market reforms to stimulate demand - or both.

Beijing is increasingly concerned about the risk an onset of deflation would pose to an economic recovery that has failed to gain traction despite a swath of reform initiatives intended to restore investor confidence and respark productive business investment.

China will likely stick with this year's growth target of 7.5 per cent for 2014 as top leaders balance the need to keep the economy on an even keel while pushing through necessary structural reforms, sources at top government think tanks said.

China's leaders are expected to gather at a closed-door meeting next week to set policy and reform priorities for 2014,

When a court in a coastal province renders its verdict against disgraced Chinese leader Bo Xilai in a trial that appears imminent, it could also decide the pace of economic reforms planned by the new government of President Xi Jinping.

Chinese Premier Li Keqiang said on Sunday ensuring economic growth was the top priority for his government, pledging to fight graft, tackle vested interests and calling for an end to a cyber-hacking row with the United States.