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Economy can continue growth: Premier Li

2014-04-18 08:10 China Daily Web Editor: qindexing

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."

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