Li calls for experts’ opinions as China vows to stabilise growth
He wants effective solution to outstanding problems and for results by promptly implementing policies
CHINESE Premier Li Qiang called for experts and academics to put forward their “forward-looking and constructive” opinions about the latest economic issues as Beijing seeks to stabilise growth amid a stubborn slowdown.
Li said the government should listen to the voice of the markets and respond to social concerns when formulating and implementing economic policies, state-run broadcaster China Central Television reported on Tuesday (Oct 8), citing a meeting with experts and entrepreneurs. He also called for the effective solution of outstanding problems in the economy and for results by promptly implementing policies.
“We must get a clear understanding of the major trends and strengthen our confidence, while also facing up to the difficulties, responding to them actively, and effectively addressing prominent issues in economic operation,” Li said.
Beijing rolled out a massive stimulus package in late September as the country’s leaders aim to achieve around 5% growth this year. Li’s remarks on experts’ opinions on the economy appear to be a signal for Chinese leaders to heed calls for market advice on reinvigorating growth.
Economic data in recent months show that government goals could be hard to reach as consumer spending remains sluggish and a property downturn persists. Rising trade tensions are also threatening new growth drivers such as exports of electric vehicles.
On economic planning for next year, Li said China will study a number of policy measures to stabilise the growth and promote development, the CCTV report said, adding the government would launch them in a timely manner.
Both the People’s Bank of China Governor Pan Gongsheng and China Securities Regulatory Commission Chairman Wu Qing attended the meeting, according to CCTV. BLOOMBERG
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