China: Chinese Economy and Chen Yulu

china: The Chinese economy has been generally stable, and progress has been made continuously in improving and upgrading the economic structure, Chen said in the statement, which was posted to the IMF's website on Saturday, according to Global Times China. The deputy central bank governor said China's growth has placed greater emphasis on quality and become more balanced, as domestic consumption played a greater role in promoting growth. In 2018, China's GDP gross domestic product increased by 6.6 percent, contributing nearly 30 percent to world GDP growth, Chen Yulu, deputy governor of the People's Bank of China PBC said in a statement to a meeting of the International Monetary and Financial Committee IMFC on the sidelines of the ongoing Spring Meetings of the IMF and the World Bank in Washington. The stock market, which has seen a slack in the past few years, is also showing signs of bottoming out and recovering according to Chen. With RMB-denominated assets increasingly included into global indexes, the potential for foreign portfolio investment inflows is growing, he argued. Foreign portfolio investment into China reached a record high of 120 billion US dollars last year, as international institutional investors diversified their portfolio investment and China further opened up the bond market and stock market, he said. (news.financializer.com). As reported in the news.