PBOC deputy says economy performing well

People's Bank of China Deputy Governor Li Ruogu said on Monday 9 May that the Chinese economy is performing well and added that he was satisfied with the inflation rate.

"I think the Chinese economy has been performing well, and the growth rate and inflation and other indicators of the Chinese economy have been going smoothly," he told reporters.

Before the G10 meeting on the global outlook several officials he said that China's overheated economy was poised for a smooth and gradual slowdown.