Li vows steps to maintain growth

Updated: 2014-07-05 06:40

By Zhao Yinan in Changsha Wei Tian in Shanghai (China Daily)

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Li vows steps to maintain growth

Premier Li Keqiang visits the headquarters of Talkweb Information System Co Ltd, an animation company, in Changsha, Hunan province, on Friday. Liu Zhen / China News Service

Fine-tuning of measures, more reforms to help nation achieve 7.5% GDP target

Market forces and more reforms, in addition to targeted policy fine-tuning, should be the measures used by policymakers to help the world's second-largest economy achieve its annual growth target, Premier Li Keqiang said during a visit to central China that ended on Friday.

"China's economic growth is overall smooth and remains at a reasonable level," Li said at a meeting with leaders from four provinces and entrepreneurs on Thursday afternoon.

He said higher employment numbers and the booming service sector, as well as the robust economic data in the second quarter, are all evidence that the government's pump-priming measures have borne fruit.

China's GDP growth is estimated to have accelerated to 7.5 percent in the second quarter from 7.4 percent in the first three months, Switzerland-based financial services firm UBS AG said in a recent report, on the back of robust manufacturing activities and a more relaxed credit market. Official GDP figures are expected to be released on July 16.

Li, however, said that there are still uncertainties in the global market and some structural problems in the domestic economy. "Therefore, we should not ignore downward pressure," he said.

Local government officials, who were present at the meeting with the premier, expressed concerns about regional economic development.

Li vows steps to maintain growth

Li vows steps to maintain growth

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