The Wall Street Journal reports, "Chinese President Xi Jinping defended his government's economic stewardship and said that China's slowing growth and market fluctuations won't deter needed reforms. In his first interview with foreign media since Chinese stocks skidded this summer, Mr. Xi told The Wall Street Journal that this summer's government intervention to arrest the plunge was necessary to "defuse systemic risks." The rescue was akin to acts taken by governments in "some mature foreign markets," the president said in written responses to questions submitted by the Journal ahead of his first official state visit to the U.S."
"An American businesswoman accused of spying has been formally arrested in China shortly before President Xi Jinping's trip to the United States, her husband and a family lawyer said on Tuesday, adding to the brew of disputes that have dulled expectations for the visit. State security officers secretively detained the businesswoman, Phan Phan-Gillis, also known as Sandy, about six months ago, while she was accompanying a delegation of officials and businessmen from Houston in southern China," The New York Times writes.
Reuters writes, "Chinese President Xi Jinping added his voice on Tuesday to officials trying to reassure the world that the government was still firmly committed to financial reform following criticism of its intervention to steady rocky markets and boost growth. The comments came as the country's stock market showed further signs of stabilizing after a raft of government measures aimed at shaking out speculators and preventing a 40 percent slide since June turning into a full-scale market crash. Steady financial markets will be critical for the president this week when he visits the United States, where he is likely to be grilled on China's actions to arrest the market slide."