Premier Li Keqiang said at a press conference on Wednesday China’s economy has sustained medium-high growth speed amid sluggish economic recovery worldwide, which indicates prophesies of the country’s economy having a hard landing should be put to a full stop.
When asked about major achievements of the administration over the past four years, Li emphasized that China has ensured a medium-high growth rate, and the good results are achieved without resorting to massive stimulus measures. “Instead, the growth comes from upgrading of China’s industries, consumers’ pattern and thus improvement of China’s economic structure,” said premier Li.
China has set projected Gross Domestic Products (GDP) target at 6.5 percent for 2017. Li noted “it is not a low speed and would not be easy to meet,” considering the country has got an economy of USD 11 trillion. He confirmed that with the target, China’s government would be able to focus more on enhancing the quality and performance of China’s growth, and the target is consistent with the law of economics.