xi jinping: ‘China economy will turn more to local market’

China’s financial system will turn into extra depending on its home market even because it opens up additional for international commerce, former Chongqing mayor Huang Qifan stated on the annual Worldwide Finance Discussion board on Saturday.

International commerce accounted for 64% of China’s financial system in 2006 and can regularly decline to about 25%, Huang stated on the assembly in Guangzhou. The home market will develop because the middle-income inhabitants will increase, he stated.

“The brand new construction led by the interior circulation does not imply involution or ‘mendacity flat’,” stated Huang, including that it could assist the nation in opening up the financial system.