Chinese president sees "tortuous process" of world economic recovery

Reuters

NUSA DUA, Indonesia, Oct 7 (Reuters) - Chinese President XiJinping said on Monday he expected a "tortuous process" of worldeconomic recovery, while China's current economic growth ratewas "within a reasonable and expected range".

Speaking on the sidelines of the Asia-Pacific EconomicCooperation leaders summit in Bali, Indonesia, Xi said, "I'mfully confident in the future of China's economy."

China's GDP grew at 7.6 percent for the first half of 2013,slower than in previous years.

Xi brushed aside concerns of a hard landing for the Chineseeconomy, however, saying "(A) seven percent annual growth ratewill suffice."

He added, "The slowdown of the Chinese economy is anintended result of our own regulatory initiatives."

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