Premier: China needs 'strong measures' to support economy

Chinese President Xi Jinping and Chinese Premier Li Keqiang arrive for the closing session of the National People's Congress in Beijing's Great hall of the People on Friday, March 15, 2019. (AP Photo/Ng Han Guan)
Chinese President Xi Jinping arrives for the closing session of the National People's Congress in Beijing's Great hall of the People on Friday, March 15, 2019. (AP Photo/Ng Han Guan)
Chinese Premier Li Keqiang waves as he arrives for a press conference held after the closing session of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, Friday, March 15, 2019. (AP Photo/Mark Schiefelbein)

BEIJING — China's top economic official says the country needs "strong measures" to counteract downward pressure on growth but Beijing plans to promote market-oriented reforms instead of relying on more lending and deficit government spending.

Premier Li Keqiang, speaking in a nationally televised news conference, said Friday the communist government will cut taxes and take other steps to "boost the vitality of the market."

Li said, "We certainly need to take strong measures to cope with rising uncertainties that we face this year." However, he added that boosting lending or government spending might "lead to future problems."

Li expressed confidence Beijing can achieve its annual growth target of 6 to 6.5 percent. Economic growth last year fell to a three-decade low of 6.6 percent.

You may also interested in

China imports grow in August for 1st time in 2...

Sep 8, 2016

China trade showed unexpected strength in August in a positive sign for global economic growth

Global markets mixed after Wall Street loss

Dec 23, 2016

Asian markets are mostly lower while Europe has gained in early trading ahead of the Christmas...

Asia shares falter as investors watch dollar,...

Jan 6, 2017

Asian shares are wavering as a weaker dollar discourages investors who are shying away from risky...

Choked by smog, Beijing creates new environmental...

Jan 8, 2017

Officials in Beijing have announced a new environmental police squad to root out illegal burning in...

McDonald's sells China business in deal worth up...

Jan 9, 2017

Fast-food giant McDonald's is selling a controlling stake in its China business to a group of...

Subscribe To Our Newsletter