Growth range leaves leeway for restructuring, reforms

DALIAN, Sept. 11 -- While the world watches for recovery signs in the world's second-largest economy, Chinese Premier Li Keqiang's emphasis on "reasonable range" growth underscored the government's resolve to push forward reforms and balance growth speed and quality.

At the opening ceremony of the Annual Meeting of the New Champions 2013, also known as Summer Davos, Li described the reasonable growth range he first proposed in July as a benchmark for policy adjustments. This range is marked by a lower limit designed to ensure steady growth and job creation and an upper limit meant to avert inflation.

"As long as the economy runs within the reasonable range, we will keep macroeconomic policies generally stable and focus on shifting the growth model and structural readjustment," Li said.

His remarks assured the outside world that China's economy is not losing control and underscored the government's intent to capitalize on a slowly stabilizing economy in order to carry out restructuring and reforms for the long-term good, analysts said.