China's economy displays positive changes this year: Premier Li
China's economy has been operating steadily since the beginning of the year, with positive changes emerging and market expectations being markedly improved, said Chinese Premier Li Keqiang Thursday.
Li made the remarks at the opening plenary of the Boao Forum for Asia (BFA) annual conference in Boao, a coastal town in China's southern island province of Hainan.
Constructors work on the site of a central cooling system in China (Guangdong) Pilot Free Trade Zone Qianhai & Shekou Area in Shenzhen, south China's Guangdong Province, March 15, 2019. [Photo: Xinhua/Liu Dawei]
Data from the first two months showed that major economic indicators, including employment, consumer prices, and international balance of payment, were rather stable, Li said.
Meanwhile, fixed-asset investment recovered steadily, consumer confidence index and new orders index for the manufacturing sector rose markedly, and transactions on the stock markets were active, he added.
In March, electricity generation and consumption were recording double-digit growth and foreign trade and cargo transport were reporting faster growth, Li said.
He however noted that instability and uncertainty are visibly increasing, with externally-generated risks on the rise, and monthly and quarterly economic growth may see a certain level of volatility.
China has sufficient instruments at hand, but will not resort to massive economic stimulus to maintain short-term growth at the cost of long-term development, Li said.
China will continue to open up and energize market players and strengthen endogenous impetus to withstand the downward pressure and maintain sound economic fundamentals in the long term, Li said.