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China's economy expected to further stabilize

(Xinhua)

08:28, September 12, 2012

TIANJIN, Sept. 11 (Xinhua) -- Premier Wen Jiabao said Tuesday that China's economy is expected to further stabilize as recent measures on tax cuts, required reserve ratio, investment, infrastructure and trade facilitation are implemented and take effect.

"Macroeconomic indicators show that China's economic and social development is in good shape," Wen said when addressing the opening ceremony of the Summer Davos Forum held here in northern China's port city of Tianjin.

"The speed of growth is still within the target range set at the start of the year, and although growth is slowing down, it is being more stable. As the recent measures are implemented and take effect, we expect the economy to further stabilize," said Wen.

With the theme of "Creating the Future Economy," the three-day forum gathered about 1,610 delegates worldwide.

This year international political and economic situation has remained complicated and fluid, and brought more difficulties to China's economic development, Wen said.

In line with the overall requirement of making progress while maintaining stability, the Chinese government has strengthened and improved macro-regulation, followed a proactive fiscal policy and a prudent monetary policy, and made the policies more forward-looking, targeted and flexible, he said.

The government has properly handled relations between maintaining steady and robust economic development, adjusting the economic structure and managing inflation expectations, laid greater emphasis on stabilizing growth, and sustained steady and fast economic growth. It has intensified anticipatory adjustments and fine-tuning to respond to the new developments and problems in the economy, said Wen.

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