January 17, 2017 / 11:04 AM / 2 years ago

China's economy has entered 'new normal', says Xi

DAVOS, Switzerland (Reuters) - China’s economy has entered a “new normal”, but its economic fundamentals are unchanged, Chinese President Xi Jinping said on Tuesday, adding a major driver now was household consumption.

Chinese President Xi Jinping attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 17, 2017. REUTERS/Ruben Sprich

Despite the sluggish global economy, China’s economy is expected to have grown 6.7 percent in 2016, Xi told the World Economic Forum in Davos, Switzerland, on Tuesday.

Reporting by Noah Barkin and Elizabeth Piper

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