Xi says China economy is ‘resilient,’ will deepen global links

Xi Jinping said China’s economy is “resilient” and vowed to deepen economic ties with other countries as he began a third term as head of the country’s ruling Communist Party.

“China cannot develop in isolation from the world. The world’s development also needs China,” Xi said, addressing an audience of Chinese and overseas journalists after the close of the party’s congress.

The twice-a-decade event came at a time of heightened concern about the world’s second-largest economy, where growth has been hit by strict Covid-19 controls and a deep property market slump.

Xi tried to allay those concerns by referring to the country’s long-term growth prospects. “Currently the Chinese economy is resilient. Economic potential is ample. There is large room to maneuver,” he said. “Long-term sound economic fundamentals won’t change.”

At the party congress, Xi has pushed for the “dual circulation” policy — an attempt to insulate China from economic shocks