ADB says Chinese economy on mend

THE Chinese economy may have already bottomed out and be in the recovery phase, said Haruhiko Kuroda, president of the Asian Development Bank in Bali yesterday.

Kuroda made the remark at a press conference on the last day of the ADB's annual meeting, on the basis of his observations "in this meeting as well as from various statistics already released." Kuroda added that the South Korean economy had showed signs of recovery, and Japan's industrial production showed some signs of bottoming out.