China’s GDP growth expected around 5% this year, senior official says

BEIJING (Reuters) – China’s economy is expected to grow by about 5% this year, the deputy director of the country’s central financial and economic affairs commission said on Saturday.

The world’s second-largest economy is expected to contribute close to 30% of global growth, Han Wenxiu told an economic conference.

China’s foreign exchange reserves likely remained above $3.2 trillion this year while employment and prices are expected to remain stable, said Han, who is also a senior official in the ruling Communist Party.