China should not seek high growth as financial risk mounts: party official

BEIJING (Reuters) – For China to seek high economic growth at a time of accumulating financial risk could bring the country more risk, a senior Chinese Communist Party official said on Saturday.

China should focus less on “high-speed” growth in the short run and more on “quality” growth, said Yang Weimin, deputy director of the Office of the Central Leading Group on Financial and Economic Affairs.

“In the past 30 years, China has already created a China miracle of high-speed growth. Over the next 30 years, China can create another,” Yang said at the annual China Development Forum in Beijing.

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