Economic revival 'complicated' due to growing global competition: Xi

This is the slowest growth of China's economy since the 2.3 per cent registered in GDP in 1974

Efforts to revive China’s economy have become “complicated” with growing global competition to attract investment, President Xi Jinping has said, calling for steps to forestall and defuse major economic and financial risks, including those arising from the property sector and the piling local government debt.

In an article published in the official media on the subject “State of the Country’s Economy”, Xi said that more efforts should be made to attract and utilise foreign investment.

In a tacit admission of the disquieting state of the world’s second-largest economy which last year shrank to three per cent registering its second lowest growth rate