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Premier Li calls for more efforts to keep steady, healthy economic development

Xinhua | Updated: 2019-07-16 20:50

BEIJING -- Chinese Premier Li Keqiang has called for more efforts to maintain the steady and healthy development of the economy and society.

The Chinese economy has achieved generally steady performance in the first half (H1) of this year with residents' income increasing, the ecological environment improving and some indicators beating expectations, achievements that did not come easily, remarked Li Monday while chairing a symposium attended by economists and entrepreneurs to analyze the economic situation.

The country's GDP expanded 6.3 percent in the first six months of this year, in line with the government's annual target of 6 to 6.5 percent, official data showed Monday.

The attendees agreed that the steady H1 economic performance within an appropriate range showed the Chinese economy's strong resilience as well as the important role of new growth drivers.

They said the cutting of taxes and fees had benefited enterprises and strengthened their confidence, indicating effectiveness of the government's macro policies.

However, the downward pressure is increasing due to weak global economic recovery, slowing trade and investment and rising protectionism and other headwinds facing the domestic economy, Li pointed out.

China will continue to implement a proactive fiscal policy, a prudent monetary policy and an employment-first policy, while making good use of countercyclical regulation tools and carrying out anticipatory adjustments and fine-tuning when necessary, according to him.

Efforts should be made to ensure the accomplishment of the annual goal of tax and fee cuts of nearly 2 trillion yuan (about $291 billion), and improve the transmission mechanism of monetary policy to reduce financing costs for small and micro firms, Li added.

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