January 17, 2017 / 11:04 AM / in a year

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.

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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