Monday, September 29, 2008

Premier: China's strong growth is greatest contribution to world economy amid financial crisis

Amid the global financial crisis, the greatest contribution China can make to the world economy is to maintain the country's strong momentum of a steady, rapid economic growth and avoid any major ups and downs, said Chinese Premier Wen Jiabao here on Saturday.

"What we can do now is to maintain the steady and fast growth of the national economy, and ensure that no major fluctuations will happen. That will be our greatest contribution to the world economy under the current circumstances," said Wen during a brief question and answer session at the opening ceremony of the 2008 Summer Davos forum in north China's Tianjin Municipality.

The premier said he believes that cooperation among all countries is very important to addressing the current global financial turmoil, and called for active actions from all countries concerned to deal with the crisis.

Meanwhile, confidence on the parts of economists, entrepreneurs, the public and the state leaders is also of critical importance, said Wen.

"At this moment, confidence is even more precious than gold or any currencies," he told the gathering at the plenary hall of the Binhai International Convention and Exhibition Center.

He also noted that the Chinese government would adopt "both flexible and prudent" macro-economic policies to seek solutions to the problems in the economy, and steadfastly adhere to the three-decade practice of reform and opening-up.

The country's economy, the fourth largest in today's world, is experiencing a difficult time under the pressure of the global slowdown and soaring domestic prices. Nevertheless, it scored a growth rate of 10.4 percent in the first half of the year.

Wen said that maintaining a steady and rapid economic growth is not only the need of China itself, but also a good thing for the stability of the world.

"We have confidence in China's economic development," he added.

Source: Xinhua

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