Premier Li Keqiang says that China has been pushing forward reform rather than carrying out stimulus packages to tackle the downward pressure on economic growth, in a keynote speech delivered at the closing ceremony of the sixth Hamburg Summit on Oct 11.

“When we faced downward pressure, we did not turn to broad and indiscriminate economic stimulus policies, and we did not ease our monetary policy or increase the deficit. Instead, we pushed forward reforms.

“We speeded up reforms in major fields such as administrative power, tax, finance and investment. We also used macroeconomic control to maintain economic growth within a reasonable range, and issued special policies aimed at helping develop certain industries.”

Premier Li Keqiang delivers his keynote speech at the sixth Hamburg Summit, Oct 11, 2014.[Photo/Xinhua]

Premier Li Keqiang delivers his keynote speech at the sixth Hamburg Summit, Oct 11, 2014. [Photo/Xinhua]

Premier Li Keqiang delivers his keynote speech at the sixth Hamburg Summit, Oct 11, 2014.[Photo/Xinhua]