CRI听力:China Will Not Introduce Strong Stimulus Measures: NDRC

Xu Shaoshi, minister in charge of the National Development and Reform Commission, says while the authorities are not planning to introduce any large-scale stimulus packages this year, government investment will still continue to play a key role in moving the economy forward.

"This year the economic recovery of the whole world will be weak. On top of this, China's domestic economy is facing downward pressure, so overseas market demand is not going to improve much. It will be better for China if our consumption will continue to grow steadily. That way, we can make investment a key factor in stimulating economic development."

Xu Shaoshi says investments will be made to increase public products and services, including areas such as information technology, rail and water conservation.

In releasing the government's annual work report to the opening of the National People's Congress, Premier Li Keqiang says there are plans to invest some 800 billion yuan in railway construction this year, on top of another 800 billion in major water conservation projects.

At the same time, to try to make the Chinese market more accessible for both domestic and overseas private investors, Xu Shaoshi says a series of regulatory changes are also being worked on.

"Activating private investment is one of our key goals. We plan to relax controls over market access and streamline avenues for both investment and financing."

Looking back over this past year, Xu Shaoshi says the Chinese economy was confronted with more difficulties than the government anticipated.

Despite this, he contends the economy actually did better than expected.

"First, we need to point out the 7.4 percent growth seen last year is within a reasonable range, and almost identical with our anticipated target. Secondly, we have to remember this is still one of the fastest rates of growth in advanced economies."

And looking forward, Xu Shaoshi says the markets can still be confident in China's prospects for this year.

"I've summed up the general development trend of the economy for the whole year in three sentences: the pressure is not small; the favorable factors are not less; the confidence is not sagging."

For CRI, I'm Qi Zhi.