Chinese Premier Li Keqiang said in Beijing today the country is expected to achieve positive economic growth this year if security is ensured in six key areas, including ensuring employment and people’s livelihoods.
Li met with the domestic and foreing media following the conclusion of Third Session of the 13th National People's Congress in Beijing.
He said it is “practical and realistic” to not set a economic growth target this year as China is not immune from the economic shocks from the coronavirus pandemic.
Li said the government has the ability to take further action should the outlook deteriorate.
“We have also reserved policy space on the fiscal, financial, social security and other fronts, and we are in a strong position to quickly introduce new measures should the situation call for it, without any hesitation,” he said. “It is essential that we keep China’s economic development on a steady course.”
Li said China nation needs to be creative in policymaking.
Policy will focus on bailing out businesses and spurring market vitality, on stabilizing employment and ensuring people's livelihoods, as opposed to relying on infrastructure investment.
Li noted that the China's economic structure has changed massively, with consumption becoming the major growth driver. Medium, small and micro-sized businesses contribute to over 90 percent of total job creation. And 70 percent of funds in the current package go directly to underpinning resident incomes.
Li said China and the world have not yet reached a complete end to the pandemic. There are still sporadic cases in China and scientists have warned people to stay alert.
China will continue to be transparent in its anti-epidemic work and not hide anything, he said.
