Premier: China needs 'strong measures' to support economy

Chinese Premier Li Keqiang waves as he arrives for a press conference held after the closing session of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, Friday, March 15, 2019. (AP Photo/Mark Schiefelbein)
Chinese President Xi Jinping and Chinese Premier Li Keqiang arrive for the closing session of the National People's Congress in Beijing's Great hall of the People on Friday, March 15, 2019. (AP Photo/Ng Han Guan)
Chinese President Xi Jinping arrives for the closing session of the National People's Congress in Beijing's Great hall of the People on Friday, March 15, 2019. (AP Photo/Ng Han Guan)

BEIJING — China's top economic official says the country needs "strong measures" to counteract downward pressure on growth but Beijing plans to promote market-oriented reforms instead of relying on more lending and deficit government spending.

Premier Li Keqiang, speaking in a nationally televised news conference, said Friday the communist government will cut taxes and take other steps to "boost the vitality of the market."

Li said, "We certainly need to take strong measures to cope with rising uncertainties that we face this year." However, he added that boosting lending or government spending might "lead to future problems."

Li expressed confidence Beijing can achieve its annual growth target of 6 to 6.5 percent. Economic growth last year fell to a three-decade low of 6.6 percent.

You may also interested in

The hidden risk to the economy in corporate balance sheets

Aug 24, 2016

America has a debt problem, and the big borrower this time may surprise you: Corporate America

Rio Olympics over, final decision on Brazil president looms

Aug 24, 2016

After the party, the hangover: With the Rio Olympics fading into memory, Brazil returns to longstanding political divisions and prepares for a final Senate vote on whether to permanently oust its embattled President Dilma Rousseff

Stocks end mostly lower after Yellen speech

Aug 26, 2016

Stocks end mostly lower, giving up earlier gains after Fed Chair Yellen said the case for raising interest rates has strengthened

Broaden News
Search

Manage The Numbers is the world’s fastest-growing finance news website, featuring the latest money and market news, along with in-depth analysis so you can make the best decision.

Contact us: sales@managethenumbers.com

Subscribe to our newsletter!

Name

Email