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Xinhua Insight: Premier Li highlights Asian integration, China's growth impetus

English.news.cn   2014-04-10 18:11:16

BOAO, Hainan, April 10 (Xinhua) -- Chinese Premier Li Keqiang on Thursday said China will forge ahead with other Asian countries, sharing weal and woe, to open up new vistas from Asia's development.

China's economy has got off to a stable and good start this year, Li said when delivering a keynote speech at the opening ceremony of the Boao Forum for Asia (BFA) Annual Conference 2014 held in Boao, a coastal town in south China's Hainan province.

Li's remarks came as China's stumbling trade figures weighed on the market confidence over the country's economic strength.

Exports slumped by 6.6 percent in March from a year ago and imports were down 11.3 percent, the General Administration of Customs said Thursday.

Li assured his audience of over 1,000 Asian political and business leaders that China's development has strong resilience, despite downward pressure and difficulties.

CHINA'S GROWTH IMPETUS

"We have the capabilities and confidence to keep the economy functioning within the proper range," Li said.

The world's second largest economy has set its target of economic growth for 2014 at about 7.5 percent.

"As long as there is sufficient employment and no major fluctuations, actual GDP growth will be within the proper range, be it slightly higher or lower than the target," he said.

China will generate impetuses for growth by deepening reform, adjusting the economic structure and improving people's livelihoods, the premier said.

Li also emphasized a new stage of quality and performance, after rapid growth over the past three decades and more.

The government will not resort to short-term stimuli because of temporary economic fluctuations and will pay more attention to sound development in the medium to long run, said Li.

Li is confident that the government has equipped itself with new weapons in the macro-control arsenal, and tried to disperse market jitters over future development, said Wang Jun of China Center for International Economic Exchanges, a government think tank.

During his speech, Li numerated conditions for the economy to achieve sustained and sound growth.

China has a big economy and large foreign exchange reserves. There is still great room and opportunity in the new type of industrialization, IT application, urbanization and agricultural modernization, the premier said.

Narrowing the gap between urban and rural areas and among different regions will also unleash huge potential for growth, he added.

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Editor: Bi Mingxin
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