Chinese premier confident China can reach 7% GDP growth goal

[PARIS] China can achieve its economic growth target of around 7 per cent in 2015 despite a slowdown since the beginning of the year, Chinese Premier Li Keqiang said on Wednesday. "Through our hard work, we have the ability and confidence to achieve our target of around 7 percent growth for this year,"Li told the Organisation for Economic Co-operation and Development (OECD) in Paris.

Mr Li said China had faced a slowdown since the beginning of the year but that the world's second-largest economy had many policy options to deal with it. "We will adopt measures appropriately at an appropriate time," he said.

He earlier said quantitative easing (QE) measures were not the only way to boost an economy, saying a streamlined administration, proper competition and a better business environment for foreign investors were key.

REUTERS