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China's economy steady and positive this year: Premier Li

Published: March 28, 2019 15:49:20 | Updated: April 02, 2019 14:18:56


China's economy has been operating steadily since the beginning of the year, with positive changes emerging and market expectations being markedly improved, Chinese Premier Li Keqiang has said.

Li made the remarks on Thursday at the opening plenary of the Boao Forum for Asia (BFA) annual conference in Boao, a coastal town in China's southern island province of Hainan.

Data from the first two months showed that major economic indicators, including employment, consumer prices, and international balance of payment, were rather stable, he said.

Meanwhile, fixed-asset investment recovered steadily, consumer confidence index and new orders index for the manufacturing sector rose markedly, and transactions on the stock markets were active, he added.

In March, electricity generation and consumption were recording double-digit growth and foreign trade and cargo transport were reporting faster growth, Li said.

He however noted that instability and uncertainty are visibly increasing, with externally-generated risks on the rise, and monthly and quarterly economic growth may see a certain level of volatility.

He said the country has sufficient instruments at hand, but will not resort to massive economic stimulus to maintain short-term growth at the cost of long-term development, reports Xinhua.

China will continue to open up and energize market players and strengthen endogenous impetus to withstand the downward pressure and maintain sound economic fundamentals in the long term, Li said.

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