Li Keqiang says Beijing ready to support economy
Premier reassures investors that the govt has policies in place
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CHINA's Premier Li Keqiang has sought to reassure jittery global investors that Beijing was ready to support the cooling economy, saying that the government had the necessary policies in place and would push ahead with infrastructure investment.
Recent weak economic data and mounting signs of financial risks have dimmed outlook for the world's second-largest economy, sparking talk of imminent government action or even a mini-stimulus plan to shore up growth. "They don't want investors and businesses to lose confidence. So obviously they want to make it clear they have the ability to step in if necessary. So I think that's probably the main point behind it," said Julian Evans- Pritchard, China economist at Capital Economics in Singapore.
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