Follow us on:   

Chinese Premier: Economy is off to stable start
April 17, 2014, 4:04 pm

Li, right, said that Beijing has made economic reform and increasing flexibility a national priority [Xinhua]

Li, right, said that Beijing has made economic reform and increasing flexibility a national priority [Xinhua]

Chinese Premier Li Keqiang said Thursday that his government has innovated macro-control methods, and reached a balance between growth and readjusted economic structure to overcome domestic and global market challenges.

During his meeting with Robert Thomson, the Chief Executive of global network News Corp, Li said that the government’s policy of promoting reform has allowed the Chinese economy to kick off the year with a “stable and good start” and run “with proper range”.

On Wednesday, the National Bureau of Statistics (NBS) said gross domestic product (GDP) reached 12.8213 trillion Yuan ($2.08 trillion) and that the economy grew 7.4 per cent in the first quarter of 2014.

While outpacing global growth data, the figures marked the lowest quarterly growth in 18 months.

“The figures suggest growth in the world’s second-largest economy in the beginning of year 2014 was stable as Chinese authorities promoted reforms, innovation, restructuring and improvement of people’s well-being,” the NBS said.

Commenting on the recent figures, Li said China faces a challenge in maintaining medium and high speed economic growth of about 7.5 percent.

Li said, however, that China would continue to emphasise comprehensive economic reform, and streamline administration.

In earlier statements, Li ruled out any further stimulus reiterating that Beijing will settle for slower but sustainable development instead.

“We will not take, in response to momentary fluctuations in economic growth, short-term and forceful stimulus measures. We will instead focus more on medium-to long-term healthy development,” Li said on data which showed that China’s exports slumped 6.6 per cent to $170.11 billion in March.

For his part, Thomson said that his group will facilitate mutual understanding between China and the rest of the world.

Source: Agencies

Leave a Reply

Your email address will not be published. Required fields are marked *

Anti-Spam * Time limit is exhausted. Please reload the CAPTCHA.