Saturday 26 April 2014

"Chinese economy will continue to grow in year 2014" says Li

 
 
    

  Premier Li Keqiang said China has the conditions to keep its economy moving with another round of reform and opening-up, 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-on-year, 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." 




No comments:

Post a Comment