Chinese economy has great potential, prospects

The Chinese economy has great potential and vast prospects, Foreign Ministry Spokesperson Lu Kang said on Monday at a daily press briefing.

Lu made the remarks when answering a question about comments from a former United States Treasury Department official on the Chinese economy.

"China can grow at a strong pace for the next 10, 20 years," said former Assistant Secretary of the U.S. Treasury Department Charles Collyns, adding he is "cautiously optimistic" when asked about the Chinese economy in an interview on Sunday.

Lu said that he has noticed objective views about the Chinese economy among the international community, adding that this "shows the world's confidence in the current performance and future development potential of China's economy."

Stressing that the Chinese economy has progressed steadily, Lu added that the second quarter maintained growth of 6.7%, the same as the first quarter.

"We are determined to change the development mode and find new ways of green and sustainable development through structural reform," he said.

Lu said that by holding the presidency of the 2016 G20 summit, China hopes to work together with all parties to focus on major issues in the global economy, further promote development through innovation and reform and promote global economic growth at a strong, sustainable and balanced pace.