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China premier says taking time for reforms to gain traction

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It is still taking time for reform measures to gain traction, Chinese Premier Li Keqiang was quoted as saying by the Foreign Ministry - PHOTO: SPH

[BEIJING] It is still taking time for reform measures to gain traction, Chinese Premier Li Keqiang was quoted as saying by the Foreign Ministry.

While economic performance in first nine months of year was still within a "reasonable range", China's economy also faces downward pressure, the ministry quoted Mr Li as telling APEC finance ministers, in a statement released late on Tuesday.

China grew at its slowest pace since the global financial crisis in the September quarter and risks missing its official target for the first time in 15 years, adding to concerns the world's second-largest economy is becoming a drag on global growth. REUTERS