Premier: China’s economy displays positive changes this year

2019-03-28
Xinhua

BOAO — China’s economy has been operating steadily since the beginning of the year, with positive changes emerging and market expectations being improved, Premier Li Keqiang said on March 28.

Premier Li made the remarks at the opening plenary of the Boao Forum for Asia (BFA) annual conference in Boao, a coastal town in China’s southern island province of Hainan.

Data from the first two months showed that major economic indicators, including employment, consumer prices, and international balance of payment, were rather stable, Premier Li said.

Meanwhile, fixed-asset investment recovered steadily, consumer confidence index and new orders index for the manufacturing sector rose markedly, and transactions on the stock markets were active, the Premier added.

In March, electricity generation and consumption were recording double-digit growth and foreign trade and cargo transport were reporting faster growth, Premier Li said.

Premier Li however noted that instability and uncertainty are visibly increasing, with externally-generated risks on the rise, and monthly and quarterly economic growth may see a certain level of volatility.

China has sufficient instruments at hand, but will not resort to massive economic stimulus to maintain short-term growth at the cost of long-term development, Premier Li said.

China will continue to open up and energize market players and strengthen endogenous impetus to withstand the downward pressure and maintain sound economic fundamentals in the long term, Premier Li said.