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Premier Li: Chinese economy to keep steady growth and speed up transformation

Updated: Nov 5,2016 11:17 PM

On the afternoon of Nov 5, Premier Li Keqiang updated his audience on the latest developments of the Chinese economy while addressing the Sixth China-CEEC Economic and Trade Forum in Riga, Latvia.

Premier Li expressed confidence that China will surmount all difficulties confronting the Chinese economy, maintain steady growth and speed up economic transformation.

According to the Premier, this would be made possible by China’s vigorous efforts to adapt to the economic new normal and pursue supply-side structural reform while appropriately expanding aggregate demand. This has bolstered the internal development momentum of the Chinese economy.

First, China has consistently followed proactive fiscal policy and prudent monetary policy, and adopted new ways of macroeconomic regulation.

Second, China has endeavored to advance economic restructuring and foster new growth drivers through energetic reform, opening-up and innovation.

Third, China sought to apply market-oriented and rules-based methods to forestall and defuse risks.

Looking ahead, the Chinese economy enjoys great potential, solid strength and ample room for maneuver. It is well-positioned to sustain medium-high growth rate and move to medium-high level of development. We have every confidence in achieving this goal.