ADB: China's economy to stay resilient

Advisor confident country's global 'preeminence' in trade is intact

The Asian Development Bank said on Wednesday it expects China's economy to remain resilient and sustainable over the medium to long term.

"There is a combination of issues that many countries in developing Asia are facing but we do see the Chinese government responding quite strongly to some of these headwinds through a combination of fiscal and monetary policy measures," said Safdar Parvez, advisor at the East Asia Department of the ADB, during a virtual media briefing.

"The issues on the property sector in China are also a source of drag on growth right now but on the positive side, we see the government being very proactive and taking a number of fiscal and monetary policy measures to steady the situation, which will lay the basis for a resilient and sustainable economic foothold," said Parvez.