“Development is the only hard truth. Only when the economy continues to thrive will livelihoods improve. Everything else is empty talk. Like a boat sailing against the current, it will be swept downstream if it does not forge ahead.”
National People’s Congress Chairman Zhang Dejiang, commenting on Hong Kong’s economy, quoted in the South China Morning Post, April 28, 2013.

“China is undergoing economic restructuring, which sometimes is not in lockstep with growth. We need to sacrifice short-term growth for the purposes of reforms and structural adjustments.”
People’s Bank of China Governor Zhou Xiaochuan, quoted in the South China Morning Post, April 22, 2013.

“With our efforts, China will sustain relatively high economic growth, but not super-high economic growth. It is not necessary. It does not mean we cannot maintain economic growth at a very fast pace. We just don’t want to anymore.”
President Xi Jinping, quoted in the Shanghai Daily, April 9, 2013.

“The Chinese regulators have a much closer and more intimate knowledge of what goes on inside the banks. The lack of detailed knowledge in the West is quite amazing. And that was the reason why things went so wrong. I can’t imagine the [Chinese] central government allowing local governments to default, just as it is most unlikely that the state-owned banks would allow one of their wealth management companies to default. The consequences would be too severe.”
Investor and financier George Soros, quoted in the South China Morning Post, April 7, 2013.

“Just as a person won’t find two identical leaves on one tree, we do not think there is one-size-fits-all model. Nor do we believe that a development model will stay the same forever. We will draw on the fine achievements of all civilizations, but we will not copy the development model of any other country.”
Chinese President Xi Jinping, quoted in the South China Morning Post, March 23, 2013.

“Some of our friends from abroad are very concerned about China’s investment environment. I can tell you that fair competition is our common goal.”
Executive Vice Premier Zhang Gaoli, quoted in the South China Morning Post, March 25, 2013.