Chinese Premier Li Keqiang is moving to dissuade any fears about China's slowing growth rate.
Speaking to business leaders at the World Economic Forum in Davos, Li Keqiang says the Chinese economy is not headed for a hard landing.
"We are now taking effective measures to prevent potential debt and financial crisis. At the same time, our financial reform is underway. Here what I want to convey is that regional or systemic crises will not happen in China. The Chinese economy will not head for a hard landing."
In addressing any potential concerns about the so-called "new normal," Li Keqiang has told the Davos sessions the Chinese government is making moves to make it easier for foreign investment, particularly in the service sector.
But he also admits the 'new normal' is part of a restructuring slowdown of the overall economy.
"It must be noted that the moderation of the growth rate in China reflects a profound adjustment in the world economy and it is also consistent with the laws of economics. More importantly, we have made further progress on structural reforms. Needless to say, the Chinese economy will continue to face substantial downward pressure in 2015."
The 'new normal" is the Chinese government's term for a shift from high rates of growth toward a more moderate growth rate built on a greater focus toward consumer-driven economic strength.
China's growth rate for last year came in at 7.4-percent, the slowest rate of growth in over 20-years.
For more on the Premier's speech and broader issues connected to the Chinese economy, we are joined live by Mike Bastin, Director of The China Business Centre based in London.
1. -General thoughts on Li Keqiang's speech- (foreign investment and expansion of Free-Trade Zones)
2. How are potential foreign investors reacting to the Chinese side's adoption of the "new normal" concept?
3. What sort of talk has there been about the expansion of the private sector into traditionally state-dominated areas? What sort of interest is there among private companies entering into a public-private partnership agreement?
