NDRC: ‘China Will Absolutely Not Experience a Hard Landing’

It’s that time of the year again folks: Chinese parliament meetings. ‘Tis is the time for the largest congressional body in the world to meet and pretend that China isn’t a dictatorship, governed by a handful of people in the most belligerent command economy the world has ever known. They’ll make all sorts of comments and then leave. Some of them will make stupid comments, like this:

A Shanghai representative to the National People’s Congress (NPC) on Sunday lambasted China’s market regulators for igniting a stock crisis that is “destroying the Chinese middle class”, a rare rebuke for authorities during their biggest annual event.

It’s very likely that he will be visited by the governments mobile execution vehicle squad to be taken to the local airport for expeditious organ harvesting.

The famed and prestigious NDRC head, Xu Shaoshi said there isn’t a way the Chinese economy will experience a hard landing.

“China will absolutely not experience a hard landing,” Xu Shaoshi, head of the National Development and Reform Commission (NDRC), told reporters at a briefing. “These predictions of a hard landing are destined to come to nothing.”

“In general, I think China’s economy performance has stayed at a reasonable range (since 2015),” Xu said, adding that the Chinese economy shouldn’t be viewed through traditional perspectives.

“First, we should look from the angle that the economy has entered the ‘new normal’ period,” he said, in which growth rates have shifted and the economy’s growth engines are changing towards services from investment.

“First, we estimate the slow recovery and low growth rates in the world’s economy will continue for a period of time,” he said. “Also we could not overlook the risks from unstable (global) financial markets, falling prices of commodities and risks of geopolitics.”

Everyone pile in long to all of your favorite Chinese lottery stocks.