China's economy has grown three percent over the past three quarters and is stabilizing on an "upward trend," Premier Li Keqiang said, vowing to continue to support the economy with policy measures.
The comments were made in a meeting with International Monetary Fund managing director Kristalina Georgieva during the Asean summit in Cambodia, with details yesterday provided by the foreign ministry.
Li also said Beijing was working hard to keep market operations, employment and prices stable.
"We will continue to promote the comprehensive implementation of a package of policies and measures for stabilizing the economy with full effect ... and strive to achieve better results throughout the year," he said.
While the government has sought to support the national economy with more than 50 measures since late May, the latest figures out of Beijing have pointed to a slowdown. Recent data showed exports and imports contracting unexpectedly, inflation slowing and new bank lending tumbling.
Beijing last Friday also eased some of its strict pandemic restrictions, offering a measure of respite from the zero-Covid strategy that has curbed economic and industrial activity in the country.
Li also said China has created more than 10 million new urban jobs in the first 10 months of the year.
On that, the aim is to keep the urban jobless rate below 5.5 percent and to create more than 11 million new urban jobs in the near future.
So Li's message was that "countries should strengthen cooperation and macroeconomic policy coordination so as to form synergy to maintain the stability of the world economy and prevent recession."
Li Keqiang speaks to Malaysia's lower house speaker Azhar Azizan Harun at the summit in Phnom Penh. AFP
