China’s chief economic planner said the world’s second biggest economy will "absolutely not experience a hard landing" despite growth forecast cuts

China’s chief economic planner said the world’s second biggest economy will "absolutely not experience a hard landing" despite growth forecast cuts

Predictions of an abrupt economic slowdown are "destined to come to nothing", said Xu Shaoshi, head of China’s state planning agency

China’s National People’s Congress on Saturday lowered the economic growth target for 2016 to a range of 6.5%-7%

Chinese Premier Li Keqiang announced the lower growth range in his opening speech at the annual meeting in Beijing, warning of a "difficult battle" ahead

Mr. Xu, who heads up the National Development and Reform Commission (NDRC), said that slowing growth in the broader world economy posed difficulties for China this year

First, we estimate the slow recovery and low growth rates in the world’s economy will continue for a period of time, he told reporters on the sidelines of the People’s Congress

"Also we could not overlook the risks from unstable [global] financial markets, falling prices of commodities and risks of geopolitics."

The People’s Congress, which meets once a year, sets out to determine both the economic and political agenda for the country

It comes at a time when China is struggling with slowing economic growth and a shift away from overreliance on manufacturing and heavy industry

Under China’s 1982 constitution, the most powerful organ of state is meant to be the National People’s Congress, China’s parliament

The congress is made up of nearly 3,000 delegates elected by China’s provinces, autonomous regions, municipalities and the armed forces. Delegates hold office for five years, and the full congress is convened for one session each year