Government possesses ‘many tools’ to handle any difficulties itmay encounter this year, he promises
China is projected to see steady growth without the likelihood of a hard landing, Premier Li Keqiang said at a news conference on Wednesday, adding that the nation remains “an important growth engine” for the global economy.
Li said China, for years, has achieved sustained growth thanks to improvements in consumption and industrial upgrades, and that will continue.
On Tuesday, the nation released higher-than-expected results in macroeconomic data for the year’s first two months, indicating growth remains steady. The data support analysts’ projections that the economy will maintain stable growth momentum this year.
“I have continually heard voices saying China would encounter an economic hard-landing,” Li said. “However, last year, despite the lowest global economic and trade growth in seven years, China maintained medium and high rates of growth.
Mass entrepreneurship and innovation
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Hard landing (of the economy)
“We will not suffer an economic hard landing. Instead, we will maintain medium and high rates of growth in the long run.”
Li saidChina will not adopt mass stimulus measures but will continue to fuel growth momentum through deepened reform.
China’s GDP growth target for this year of “around 6.5 percent” is not low given China’s already large economic scale, and would not necessarily be easy for China to achieve, he said.
China will remain an important contributor of global economic growth this year, he told reporters after closure of the annual legislative session. The