China state researcher: Risk of a steep slide in the economy has reduced

Li Wei, director of the Development Research Center of China’s cabinet, was on the wires earlier on the day, via Reuters, expressing his take on the Chinese economic growth.

Key Points:

Risk of a steep slide in China's economy has reduced

China has moved through an "L-shaped" pattern of slowing

Now in "horizontal" growth ... points to long-term steady development, may be short-term fluctuations

Many positive economic signs emerging domestically & internationally

Economic transformation is incomplete, still difficulties in the economy