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27 Jan 2016
Downward economic slide unlikely to end soon – China’s Premier Li
FXStreet (Mumbai) - Chinese premier Li Keqiang said today that the downward slide in China’s economy is likely to continue and unlikely to end any time soon.
Li said the country's economy is at a key stage of structural adjustment and rebalancing which will involve both pain and hope.
Key Quotes
Government will keep economic growth within a reasonable range but more importantly, it needs to focus on employment, income and the environment indicators.
The most important tasks are to shift the economic growth model to one that is people-centered rather than focused on natural resources exploitation, and to push for innovation and mass entrepreneurship.
Government is determined to push forward industrial upgrading in an orderly but forceful manner, with current focus on closing excess capacity in the steel and coal industries.
Li said the country's economy is at a key stage of structural adjustment and rebalancing which will involve both pain and hope.
Key Quotes
Government will keep economic growth within a reasonable range but more importantly, it needs to focus on employment, income and the environment indicators.
The most important tasks are to shift the economic growth model to one that is people-centered rather than focused on natural resources exploitation, and to push for innovation and mass entrepreneurship.
Government is determined to push forward industrial upgrading in an orderly but forceful manner, with current focus on closing excess capacity in the steel and coal industries.