BEIJING (Reuters) – China faces a very arduous task in achieving a new growth model and must rely on reforms in order to do so, an advisor to the Chinese cabinet said on Tuesday.
Yao Jingyuan, the former chief economist for the country’s National Bureau of Statistics, told reporters during a briefing that China needs to boost residents’ incomes in order to support the growth of the domestic economy.
(Reporting by Kevin Yao; writing by Se Young Lee; Editing by Christian Schmollinger)
