U.S. billionaire investor George Soros recently said China's economy was heading for a hard landing as last year's economic growth registered the slowest annual expansion in a quarter of a century.
Commenting on the concern, Xu Shaoshi, head of the National Development and Reform Commission, says a hard landing is unlikely.
"The hard landing forecast has been repeatedly mentioned following the 2008 global financial crisis. This is unlikely to happen for China's economy. Just look at the positive factors - sound fundamentals, enormous market demand, rising production quality and more sophisticated government regulation. China's steady growth and bright economic outlook will show that opinion cannot hold water."
Xu Shaoshi also noted that although growth has slowed, it is still within a reasonable range.
