Downward pressure on China's economy has not completely eased: cabinet think-tank

Wed Feb 17, 2016 9:58pm EST
 
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BEIJING (Reuters) - Downward pressure on China's economy has not eased completely, the vice head of China's cabinet think-tank said on Thursday.

Wang Yiming, vice minister of Development Research Centre of the State Council also said the yuan CNY=CFXS may be stable in the medium term if China's economic fundamentals hold steady and may appreciate over time if reforms progress well and market perceptions change.

Wang also played down the risk of large-scale capital flight.

(Reporting by Kevin Yao; Editing by Kim Coghill)

 
China's national flag is seen in front of cranes on a construction site at a commercial district in Beijing, China, January 26, 2016. REUTERS/Kim Kyung-Hoon