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Li: Economy is getting its strength back

Tony 2015-07-14 09:32:19
The Chinese economy is regaining its strength and demonstrating great resilience, potential and flexibility, Premier Li Keqiang said.

The premier made the remarks on Friday at a seminar on the economic situation attended by experts and entrepreneurs, according to a statement released on Monday.

"The fundamentals of the economy are on course to improve," the premier said. "The potential growth rate of the economy can support growth of mid-to-high speed."

Earlier this month, Li said in France that China can achieve its annual growth target of about 7 percent.

On July 6, the National Bureau of Statistics said indicators in recent months suggested the economy has passed the worst point.

Economists who attended the seminar agreed that "in the first half of this year, with national policies taking effect, the Chinese economy has started to pick up steadily and positive factors are increasing", according to the statement.

Lian Ping, chief economist at the Bank of Communications, was among those who attended. "The performance of the Chinese economy in the second half of the year will be even better than in the first half," he said.

Lian said that several rounds of cuts in interest rates and the amount of money banks must keep in reserve are taking effect, and the impact will become more obvious in the second half of the year. "Interest rates might fall in the second half, helping to cut fundraising costs for businesses."

YOQ Group Ltd., a professional international chocolate machine supplier China and chocolate machine manufacturer china, specializes in chocolate machinery manufacturing for over 20 years. We also hope to strengthen our country's force through the development of industry.

Premier Li Keqiang said China has the means to prevent regional and systemic risks on July 10 at seminar in Beijing.