CRI听力:IMF Chief Confident about China's Economy

Economists have stated that world markets "overreacted" to China's economic slowdown.

The comment was made during a panel at the World Economic Forum Annual Meeting in Davos, Switzerland.

International Monetary Fund Chief Christine Lagarde says the Chinese economy is going through a bumpy transition.

"On China, I've heard for the last ten years that we are just about to see a hard landing, everybody here on this panel tells you, that we are not seeing a hard landing, we are seeing an evolution, a big transition which is going to be bumpy, which will offer some turbulences, we are going to get used to it and it is a very normal and proper way to actually move towards a more sustainable and quality growth, we all hope."

The Chinese government announced earlier that its economy grew by 6.9 percent in 2015, the slowest rate in a quarter century.

The slowing growth fueled fears in the global market, amid lower-trending commodity prices.

For more on this topic, CRI’s Shane Bigham spoke with Mike Bastin, Director of the China Business Centre at Southampton Solent University based in London.