press conference: The head of China's economic planning organ said the government's efforts to shed overcapacity have been successful and that the world's second-largest economy will not make a hard landing in 2017, according to Global Times China. Over the past two years, the domestic economy suffered a slowdown, causing concerns around the world that the world's biggest contributor to economic growth will lose momentum, but we still have the confidence and the conditions to maintain stable growth in a rational range, National Development and Reform Commission NDRC 's Chairman Xu Shaoshi told a press conference in Beijing on Tuesday. Photo IC China's economic growth in 2016 has achieved whole-year targets as economic indicators stabilized, preliminary statistics show. Xu estimated that China's GDP would expand by 6.7 percent in 2016, within the range of 6.5 percent to 7 percent set by the central government. The size of China's economy is expected to surpass 70 trillion yuan 10 trillion in 2016, increasing by about 5 trillion yuan over the previous year, equivalent to the total economy in 1994. Exact figures are to be released by the National Bureau of Statistics NBS later.
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