The Central Bank has rejected the possibility of a hard landing of China’s economy


Moscow. November 13. The Bank of Russia does not expect a hard landing of China’s economy, said the Chairman of the CBR, Elvira Nabiullina, speaking in the state Duma.

“We do not expect any hard landing of the Chinese economy. Although experts may give different opinions – we do not expect this. But, of course, we must see that the Chinese economy will diversify,” said Nabiullina.

She recalled that China had announced a policy aimed at what is now the driver of growth in the country will be domestic consumption, and scope of services. “This means that there will be less demand for commodities, and we must take into account in our economic policy, diversifying it more, instead of relying only on what the prices for oil grow, and in our monetary policy”, – said the head of the Central Bank.