Growth is sacrificed for restructuring, PBOC governor says

04/22/2013 | Bloomberg

Slightly slower growth is natural as China restructures its economy, People's Bank of China Governor Zhou Xiaochuan says. The economy expanded 7.7% in the first quarter compared with Q1 of 2012. "We should appreciate and get used to this new normal of slower growth, which has seen a stable job market and moderate inflation pressures," said Chang Jian, an economist at Barclays.

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