China s economy won t suffer hard landing: Premier Li

3/16/2016 4:01:54 AM

(MENAFN- Emirates News Agency (WAM))

BEIJING 16th March2016 (WAM) -- Chinese Premier Li Keqiang said on Wednesday that China's economy will not suffer a hard landing and there are more hopes than difficulties for the world's second largest economy.

"As long as we stay on the course of reform and opening up China's economy will not suffer a hard landing" Li told a press conference following the conclusion of the country's annual legislative session.

The premier said global economic growth is sluggish and China has been affected by the weak performance. The country is also going through a transition and some deep-seated problems which have built up over the years have become more acute.

"All these have added to downward pressure on China's economic growth" said Li quoted by the state-run news agency Xinhua.

The premier said there may be small ups and downs in the future but in case there is any sign that the economy may slide out of its appropriate range the government will employ innovative means to exercising macro-economic regulation to ensure steady economic performance. "We have a good reserve of policy instruments in our tool kit" said Li.

WAM/tfaham/Moran

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