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Quarterly economic growth picks up speed: vice premier

(Xinhua)
Updated: 2009-10-27 09:49

Chinese Vice Premier Li Keqiang addresses the opening ceremony of the 3rd International Tax Dialogue Global Conference in Beijing, capital of China, Oct. 26, 2009. [Xinhua]

Chinese Vice Premier Li Keqiang restated on Monday that the country's quarterly economic growth was quickening and the contribution of domestic demand to economic growth was enhanced.

Li made the remarks at the Third International Tax Dialogue (ITD) Global Conference, which opened in Beijing on Monday.

China's economy rose 6.1 percent year-on-year in the first quarter of this year, 7.9 percent in the second quarter and 8.9 percent in the third quarter, according to statistics of the National Bureau of Statistics.

"We should maintain the continuity and stability of macro-economic policies while enhance the flexibility and sustainability of these policies," he said.

Related readings:  Optimism growing in 3rd quarter  China's CPI falls 1.1% in first nine months, PPI down 6.5%  China's GDP forecast to grow 10.6% in Q4  China's GDP growth accelerates to 8.9% in Q3

Li said the global economic recovery was at a crucial stage and governments around the world were facing both challenges and opportunities in the processes of economic structure adjustment and economic model transfer.

He called on the international community to balance the developments of virtual economy and real economy, oppose trade protectionism, provide more supports to developing countries, especially the underdeveloped countries, to promote the all-round, balanced and sustainable development of world economy.

The ITD conference was first launched in 2005 and is held every two years. Theme for this year's meeting which would end Wednesday is "Financial Institutions and Instruments - Tax Challenges and Solutions."

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