China Won’t Pursue Credit Flooding after Weak Q3 Data: Xinhua

China will not pursue flooding style of credit stimulus, but will maintain its strategic "calmness" and pursue high-quality development, as the government sees Q3's slowdown attributable to the pandemic, floods and last year's higher base of comparison, the Xinhua News Agency said in a commentary addressing major issues facing the Chinese economy. China can achieve this year's targets, its consumption and investments still present "unlimited potential," and it will further attract foreign investments and strengthen its supply chain, said the official news agency. China will further increase coal production to ensure stable electricity supplies and prices, Xinhua said. China will meet its financial risks by pursuing "high-quality" economic development and sees "isolated cases" of debt defaults by certain property developers as controllable, said the news agency.