国内英语资讯:Yearender-Xinhua Insight: Doom-mongers get it wrong on Chinas economy_时事

国内英语资讯:Yearender-Xinhua Insight: Doom-mongers get it wrong on Chinas economy

BEIJING, Dec. 27 (Xinhua) -- The doom-mongers continue to get it wrong on the Chinese economy, time and time again.

There were frustrations when the world's second largest economy shifted gear to allow for structural reforms, but many of the doomsday scenarios predicted -- total economic collapse, a local debt meltdown, a burst property bubble, the yuan in freefall -- were a step too far and, as ever, wide of the mark.

There has also been a lot of finger-pointing, alleging that China has dragged down the world economy. Blame has been piled on China for the uphill struggles facing troubled industries worldwide.

Here is a list of scare-mongering proved wrong by the realities of the Chinese economy in 2016.

A HARD LANDING

The same old predictions about China's economy suffering a hard landing provide perfect fodder for media sensation year after year, especially amid the country's recent economic slowdown.

However, they were all proved false alarms, as shown by the economy's steady growth of 6.7 percent in the first three quarters, within the government's annual target range of 6.5 to 7 percent, and the envy of most other countries.

China has not only made a hard landing near-impossible, but also taken strides in lifting the quality of its economy, evident from the bigger contribution made by consumption and services in the economy.

By steering the economy on a quality and sustainable path, the country will secure a smooth transition to a medium-high level of growth and avoid a hard landing, much to the disappointment of the China bears.