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Chinese premier urges more aggressive fine-tuning measures

(Xinhua)

09:17, July 09, 2012

Chinese Premier Wen Jiabao (2nd L) visits Nanjing CEC Panda LCD Technology Co., Ltd. during an inspection tour of east China's Jiangsu Province in Jiangsu on July 7, 2012. (Xinhua/Li Tao)

NANJING, July 8 (Xinhua) -- Chinese Premier Wen Jiabao has called for more aggressive efforts to preset and fine-tune economic policies, as the world's second largest economy still faces huge downward pressure.

Speaking during an inspection tour of east China's Jiangsu Province from Friday to Sunday, he said the economy is running at a generally stable pace, but there is still huge downward pressure.

The government should "preset and fine-tune its policies in a more aggressive manner," while sticking to pro-active and prudent monetary policies, he said.

Wen said attention should be paid to improving structural tax reduction measures and resolving structural problems between credit supply and demand, and to make government policies more targeted, forward-looking and effective.

At a meeting held in Jiangsu provincial capital of Nanjing on Sunday, Wen said the government made a timely shift to pro-growth measures in April, and those are now working, with the economy moving toward stabilized growth albeit at a slower pace.

Domestic demand continues to act as a major driver of the nation's growth, which is still within the targeted range, he told the gathering of top officials from Liaoning, Jiangsu, Zhejiang, Anhui and Guangdong provinces.



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