China needs to adapt to “new normal” growth: Xi

China must adapt to a “new normal” pace of economic growth and remain “cool-minded” amid a slowdown, President Xi Jinping said over the weekend, Bloomberg reported citing state media. The nation’s growth fundamentals haven’t changed and the country is still in a “significant period of strategic opportunity,” Xi said, according to a Xinhua News Agency report on the central government website on May 10. At the same time, the government must prevent risks and take “timely countermeasures to reduce potential negative effects,” he said.