Chinese premier stresses strengthening economic recovery momentum, market vitality

Chinese Premier Li Keqiang has underscored efforts to consolidate the momentum of economic recovery, stimulate the vitality of market entities and enhance the endogenous engines for growth.

Chinese Premier Li Keqiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, presides over a symposium on the economic situation via video link attended by local government officials in Nanjing, east China's Jiangsu Province, March 25, 2021. [Photo/Xinhua]

Li made the remarks while presiding over a symposium on the economic situation via video link attended by local government officials Thursday.

The Chinese economy has got off to a good start this year, said Li, noting that the actual annual growth might be higher than the target of over 6 percent set for 2021.

Largely due to the lower comparison base of the previous year, some economic indicators have witnessed rapid year-on-year growth, but from a period-on-period viewpoint, the economy has generally been running steady, Li noted.

The premier called for consolidating economic fundamentals and avoiding large fluctuations to keep economic development sound and steady.

Underlining the challenges posed by the complicated international situation and domestic issues, such as employment stress and slow recovery in some industries, Li stressed keeping the economy running within a reasonable range to lay a solid foundation for sustainable and sound development.

He said that policy support for securing employment, people's livelihoods and the operations of market entities will not weaken, and financial services for the real economy shall be strengthened.

Meanwhile, more work should be done to boost employment and people's incomes, while keeping consumer prices stable and improving the ecological environment, which are the major basic tasks for keeping the economy running within a reasonable range, he said.

Government policies should focus on helping market entities get back on their feet, while reform and opening-up should be advanced to inspire their vitality and enhance the endogenous engines for growth, Li said, urging local authorities to make all-out efforts in improving the business environment.

He also demanded solid work to prepare for the implementation of the Regional Comprehensive Economic Partnership (RCEP) agreement, enhance opening-up and safeguard the stability of industrial and supply chains while seeking further cooperation.

State Councilor Xiao Jie attended the symposium.