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Premier voices confidence in economic development

Updated: Nov 6,2016 12:52 AM     Xinhua

RIGA — Premier Li Keqiang said in Riga on Nov 6 that China will surmount all difficulties confronting the Chinese economy, maintain steady growth, and speed up economic transformation.

While addressing the Sixth China and Central and Eastern European (CEE) Countries Economic and Trade Forum in Riga, Latvia, Premier Li updated his audience on the latest developments of the Chinese economy.

China’s confidence in its economic development comes from the country’s vigorous efforts to adapt to the economic new normal and pursue supply-side structural reform while appropriately expanding aggregate demand, he said, adding that this has bolstered the internal development momentum of the Chinese economy.

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

The Premier noted that his country has also endeavored to advance economic restructuring and foster new growth drivers through energetic reform, opening-up and innovation.

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

Premier Li added that looking ahead, the Chinese economy enjoys great potential, solid strength and ample room for maneuver, saying it is well-positioned to sustain medium-high growth rate and move to medium-high level of development.

China has every confidence in achieving this goal, said the Premier.

Premier Li is currently in the Baltic country for an official visit and a leaders’ meeting within what is known as the “16+1” framework, which groups China and 16 CEE nations.

His trip marks the first time for a Chinese premier to visit Latvia since it gained independence from the Soviet Union in 1991.

The Baltic country is the third stop of his ongoing eight-day Eurasia tour, which has already taken him to Kyrgyzstan and Kazakhstan and will conclude in Russia.