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Chinese economy to continue fast, steady growth: premier
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10:12, January 29, 2009

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Chinese economy to continue fast, steady growth: premier
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Chinese Premier Wen Jiabao said on Wednesday that China's economy will continue to grow fast and steadily, which is in itself an important contribution to global financial stability and world economic growth.

China is facing severe challenges including shrinking external demand, rising unemployment in urban areas and greater downward pressure on economic growth as the current financial crisis has inflicted a rather big impact on China's economy, Wen told participants at the World Economic Forum annual meeting in the Swiss skiing resort of Davos.

China has made timely adjustment to the direction of its macroeconomic policy, swiftly adopted a proactive fiscal policy and a moderately easy monetary policy, introduced 10 measures to shore up domestic demand and put in place a series of related policies, he said.

Chinese Premier Wen Jiabao speaks at the World Economic Forum annual meeting, in Davos, Switzerland, on Jan. 28, 2009.(Xinhua/Yao Dawei)

"China's economy is in good shape on the whole. We managed to maintain steady and relatively fast economic growth in 2008 despite two unexpected massive natural disasters," he said.

"We are full of confidence" because the fundamentals of China's economy, the long-term trend of China's economic development and the advantages contributing to China's economic growth remain unchanged, and there is no fundamental change in the external environment for China's economic growth, Wen said.

Chinese Premier Wen Jiabao (L) answers questions after speaking at the World Economic Forum annual meeting, in Davos, Switzerland, on Jan. 28, 2009. (Xinhua/Yao Dawei)

Switzerland is the first leg of Wen's European tour, which will later take him to Germany, the European Union headquarters, Spain and Britain.

Chinese Assistant Foreign Minister Wu Hongbo has characterized Wen's tour as a "trip of confidence," saying it will set out China's determination to stick to reform and opening up, boost economic development, deepen China-EU cooperation and join hands with the international community to tide over the financial crisis.

Source: Xinhua

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