Chinese Premier Li Keqiang (C) presides over a State Council workshop on the impact the international economic and financial situation has on China's economy in Beijing, capital of China, Aug. 28, 2015. Chinese Vice Premier Zhang Gaoli also attended the workshop Friday. (Xinhua/Ma Zhancheng)
The Chinese economy is operating within an appropriate range and China continues to lead the world in terms of growth, said Premier Li Keqiang.
On the afternoon of August 28, Premier Li Keqiang chaired a State Council special meeting in Zhongnanhai to discuss developments in global economic and financial field and their implications for China and policy responses.
Attending the meeting were leading officials of the State Council and ministers in charge of related economic and financial departments. They discussed the current situation and raised suggestions for the next step of work. After attentively listening to the discussions, Premier Li shared his observations.
He said that recent fluctuations on the international market have an impact on China, yet the Chinese economy is still operating within an appropriate range and China continues to lead the world in terms of growth.
Li said, recent world market volatility has added new uncertainties to global economic recovery. The implications are growing for China's financial market as well as imports and exports, adding new pressure on the Chinese economy.
Li said, in the context of complex and changing situations abroad and deep-rooted problems at home, we pressed ahead with progress while ensuring stability with sustained efforts for structural reforms and targeted macro-regulation measures. These included, among others, cuts in the required reserve ratio, interest rates, taxes and fees and measures aimed at stabilizing the market, which are already paying off.
Positive factors enabled by structural adjustments are topping up momentum for growth. The Chinese economy is operating within an appropriate range and China continues to lead the world in terms of growth. China has great potential for further development and is well capable of effectively managing risks and keeping them under control. This means China will continue to keep the initiative in hand even at times of complexity, he said.