Li says growth can main­tain rea­son­able pace

China Daily (Canada) - - CHINA - By ZHAO YINAN zhaoy­i­nan@chi­nadaily.com.cn

Pre­mier Li Ke­qiang said China has the con­di­tions to keep its econ­omy mov­ing with an­other round of re­form and openingup, de­spite con­cerns that the world’s sec­ond-largest econ­omy is head­ing for a deeper slow­down.

The pre­mier said it is “not easy” for a large econ­omy like China’s to main­tain its GDP ex­pan­sion at about 7.5 per­cent.

Li said he hopes the in­ter­na­tional me­dia can be “com­pre­hen­sive and ob­jec­tive” when reporting about China and play a pos­i­tive role in pro­mot­ing mu­tual un­der­stand­ing and co­op­er­a­tion.

Li made the re­marks while meet­ing News Corp CEO Robert Thom­son in Bei­jing on Thurs­day.

The Chi­nese econ­omy ex­panded at 7.4 per­cent in the first quar­ter year-onyear, prompt­ing con­cerns that the econ­omy may miss its an­nual GDP growth tar­get of 7.5 per­cent.

But the State Coun­cil, China’s Cab­i­net, con­cluded on Wed­nes­day that “growth, em­ploy­ment and in­fla­tion are all within the tar­geted range”, which shows the econ­omy is run­ning at a rea­son­able pace.

Li as­sured Thom­son that China will carry for­ward an­other round of re­form and open­ing-up to stream­line ad­min­is­tra­tion and mo­ti­vate mar­ket in­no­va­tion.

Al­though it is the low­est quar­terly growth fig­ure since the third quar­ter of 2012, the fig­ure ex­ceeded the mar­ket ex­pec­ta­tion of about 7.3 per­cent.

The fig­ure also came along with pos­i­tive data for the job mar­ket and house­hold in­come.

China cre­ated 3.44 mil­lion new ur­ban jobs in the pe­riod, 40,000 more than a year ear­lier.

Ur­ban per capita dis­pos­able in­come rose by 7.2 per­cent in real terms from a year ear­lier, the bureau said.

Chris­tine La­garde, man­ag­ing di­rec­tor of the In­ter­na­tional Mon­e­tary Fund, said re­cently that the Chi­nese econ­omy will not see a rapid dip and that the Chi­nese govern­ment is se­ri­ous and de­ter­mined to im­ple­ment re­form.

“The risk is not slower growth,” said Markus Rod­lauer, the IMF’s mis­sion chief for China and deputy di­rec­tor of the fund’s Asia and Pa­cific Depart­ment. “The risk is that growth is not al­lowed to slow.”

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.