MNI: China Counts on Domestic Growth to Offset Trade War: Spox

     BEIJING (MNI) - China's domestic consumption growth and structural reform

can help absorb the impact from challenging global trade environment marked by

the ongoing trade war with the U.S., a spokesman at the National Bureau of

Statistics said.

While downward pressure on the economy is growing, the government is confident

that it can meet the GDP growth target of 6.5% this year, partly on the

strengths of the first two quarters, spokesman Mao Shengyong told reporters on

Friday.

Mao pointed out relatively stable employment in export-driven businesses and

foreign investments as signs that the Sino-U.S. trade war hasn't significantly

hurt the economy. 

     The size of China's market makes it attractive to foreign investors and the

faster growths in trade with other markets, such as emerging markets and those

covered by the Belt & Road Initiatives, will bolster China's trade performance,

Mao said.

     Commenting on the yuan, Mao said the Chinese currency has performed

relatively well versus non-dollar currencies, and can remain basically stable. 

--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com

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