Chinese Vice Premier Liu He on Friday answered questions from domestic media about economic and financial hot issues, underlining the resilience and prospect of the Chinese economy.
Liu, also a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, said many factors had caused obvious stock fluctuations and declines in China recently, including interest rate hikes by the central banks of major economies and Sino-U.S. trade frictions.
The global stock market started seeing fluctuations and downward movements after the interest rate increases, and the U.S. stock market has also seen obvious corrections, said Liu.
"Sino-U.S. economic and trade frictions have also impacted the stock market, but frankly speaking, the psychological effect is bigger than the actual impact," said Liu.