CRI听力:Premier Li Urges More Effective Measures to Stabilize Economy

Premier Li Keqiang voiced his full confidence in the overall development of China's economy.

"China's economy still boasts remarkable tenacity, potential and flexibility. There is little doubt that China's potential for medium-high growth remains underpinned by strong, long-term fundamentals. The global economic recovery is full of twists and turns. China should push forward its own development with stronger confidence and greater efforts."

Economists and entrepreneurs at the meeting say China's economy has been stabilizing in the first half of the year.

However, they also point out there are still challenges and difficulties faced by enterprises.

The Executive Director of Sinolink Securities, Li Zhiping, gives more details.

"We see a decrease in the growth rate of all three sectors, especially in investment and trade. The growth rate of the service industry is fine. So is that for consumption. The most important decline was in investment. Both investment and trade will see a 4 to 5 percent drop in growth rates, compared to the last quarter."

To meet the challenges, the government has intensified efforts to boost economic growth, especially in the investment field.

Meanwhile, it has increased fiscal spending with the approval of a package of major infrastructure projects.

As growth momentum within the Chinese economy struggles against downward pressure, Premier Li Keqiang notes the country needs to adopt a proactive fiscal policy and stable monetary policy, while maintaining a balance between growth and economic restructuring.

"We must adhere to the correct orientation of macro control, to stabilize growth, and promote structural reform. Risks will be absorbed and digested to ensure the economy runs within a reasonable range. We should not only give priority to GDP growth, but also promote development in growth, prices, employment, incomes and environmental protection."

Premier Li stresses that the very essence of economic upgrading and development lies in reform and innovation.

He has further called on enterprises to make full use of innovation, thus to enhance competitiveness in their respective markets.

For CRI, this is Huang Shan.