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Wen urges more support for growth

By Wei Tian  (China Daily)

08:29, May 21, 2012

Premier Wen Jiabao, an alumnus of the China University of Geosciences, chats with students at the university in Wuhan on Saturday. During a weekend trip to the industrial city, Wen promised to boost domestic consumption and strengthen Beijing's economic controls. (Zhou Chao/Changjiang Daily/For China Daily)

Premier focuses on maintaining economic vibrancy in weekend tour

Premier Wen Jiabao called for greater efforts to support growth, through more monetary fine-tuning and fiscal incentives, amid signs of the economy further cooling.

While economic growth is still on track, development will face more complex domestic and global hurdles, Wen said during a weekend inspection tour to Wuhan, capital of Central China's Hubei province.

"The relationship between maintaining growth, adjusting economic structures and managing inflation, must be properly handled," Wen said in comments reported by Xinhua News Agency. "We should continue to implement a proactive fiscal policy and a prudent monetary policy while giving more priority to maintaining growth."

The government, he said, will continue to carry out anticipatory adjustments and fine-tuning, boost domestic consumption and promote steady and relatively fast economic growth.

Wen visited several local enterprises during his visit and exchanged views with company representatives.

Wen's comments came as a series of lower-than-expected economic indicators showed that the economy is facing further downside risks.

Domestic industrial output for April was at its lowest level in nearly two years while retail sales were also the weakest in 14 months, according to the National Bureau of Statistics.


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