Asia-Pacific News

Xi: China is like an arrow shot, no going back on reforms

Chinese President Xi Jinping
Lintao Zhang | Pool | Reuters

China's President Xi Jinping has defended his government's economic efforts and said reforms would continue regardless of slowing growth and stock market volatility, in an interview with the Wall Street Journal (WSJ).

"Like an arrow shot that cannot be brought back, we will forge ahead against all odds to meet our goals of reform," Xi told the WSJ in a written interview ahead of his first official trip to the U.S., at which he will attend a summit with U.S. President Barack Obama.

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In the interview, Xi said Beijing's intervention to halt the country's stock market slide over the past few months was necessary to "defuse systemic risks," noting that it was similar to actions taken in "some mature foreign markets."

He likened the country's economic slowdown to a big vessel hitting rough seas, saying that "any ship, however large, may occasionally get unstable sailing on the high sea."

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Xi also addressed the sensitive issue of cybertheft, telling the WSJ: "The Chinese government does not engage in theft of commercial secrets in any form, nor does it encourage or support Chinese companies to engage in such practices in any way,"

Read the full WSJ article here.