CHINA’S top economic planning official yesterday said it is impossible that the Chinese economy would have a “hard landing” — or a sharp slowdown after a period of robust growth — and offered assurances that it would continue to contribute to global growth, not hinder it.

    Xu Shaoshi, director of the National Development and Reform Commission, said at a news conference that China’s economy has inner flexibility and the ability to resist risks.

    “I can say, China’s economy will absolutely not have a hard landing,” Xu said. “The so-called predictions for a hard landing will definitely come to nothing. Please rest assured, this possibility does not exist.”

    Last year, China’s growth slowed to a 25-year low of 6.9 percent — but Xu said that this was still one of the fastest expansion rates in the world.

    In his remarks at a news conference on the sidelines of the annual session of the National People’s Congress, Xu said the government is taking steps to reduce overcapacity in production. China will cut steel production by 100 million to 150 million tons over five years and another 500 million tons in coal production in three to five years.

    The country has set aside funds to help resettle workers affected by the reductions, and Xu said there would not be any spike in unemployment. At least 1.5 million workers are due to be let go by State-run coal mines and steel mills, while the PLA is shaving 300,000 jobs.

    Meanwhile, the government is under pressure to find white-collar jobs for the record 7.7 million students graduating from colleges and universities this year. (NPC Special on P2, 3)