4 Aug 2011

China reassures world its economy is strong

7:59 pm on 4 August 2011

China is reassuring the world its economy is in no danger of collapsing in the wake of financial crises in the United States and Europe.

Chinese diplomats have been giving briefings around the world, including in New Zealand, about the state of China's economy.

The Chinese embassy's political counsellor Cheng Lei says he wants to correct two theories being pushed in Western countries about China.

One is that the Chinese economy is on the verge of collapse.

He says that is not correct and that China's substantial foreign exchange reserves and strong savings rate have shielded it from the financial crises affecting the US and Europe.

Nor is it correct to suggest China's growing strength makes it a threat to world peace.

Cheng Lei says China has no ambitions to replace America as the world's leading super power and that the nations can be good partners in many areas and can co-exist peacefully in the future.