Economy

China to maintain macro-economic policy stance

(Xinhua)
Updated: 2010-07-01 15:05

BEIJING - Chinese Premier Wen Jiabao has reiterated the country's stance in maintaining the continuity and stability of macro economic policies to further consolidate the growth momentum.

Wen held talks with economists and entrepreneurs on Monday and Tuesday, during which he said the country would work to make these macro policies more flexible and targeted, according to a statement posted on the government website (www.gov.cn) Wednesday.

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The attendants reached a consensus that the country's economy had picked up and been further consolidated, and it would maintain relatively fast growth for the whole year as domestic consumption, investment and exports had set the stage for steady and sustainable recovery.

China's economy was developing in the expected direction under the country's macro regulations, the premier said, adding prudent observations were needed given the complicated economic conditions, both at home and abroad.

China would balance maintaining stable and relatively fast economic growth, adjusting the economic structure and avoiding possible inflation, he said.

Wen stressed focus should be placed on mechanism reforms and the transformation of economic growth mode, which is conducive to both addressing the current problems and easing the contradictions in the long run.

The country's gross domestic product surged 11.9 percent year on year in the first quarter of this year, accelerating from 10.7 percent in the last quarter of 2009.