Chinese economy maintains stable growth, says Governor

WASHINGTON, Oct 20 (Xinhua): "Facing significant external headwinds from trade protectionism in some major economies, China has maintained a stable growth in 2019, with main economic indicators kept within an appropriate range," Governor of the People's Bank of China Yi Gang said Saturday.

In a statement at the ministerial meeting of the International Monetary and Financial Committee (IMFC), the International Monetary Fund (IMF)'s policy-setting body, the Chinese central bank governor said China's economic structure has been improving further.

"Continued progress has been made in economic restructuring, aggregate demand and supply are basically in equilibrium, and growth has become more resilient," Yi said in the statement released during the annual meetings of the IMF and the World Bank in Washington. "In the first three quarters of the year, China's GDP grew by 6.2 per cent, making an important contribution to global growth," he said. "Consumption and investment continued to grow steadily despite downward pressures."

The Chinese central bank governor noted, among other things, the total value of imports and exports of goods in the first three quarters increased by 2.8 per cent over the same period of last year.