Business / Economy

Better livelihood more important than economic data: Li

By Zhao Siyuan ( Updated: 2015-09-10 13:45

Premier Li Keqiang played down concerns over the world's second-largest economy's slowing growth on Thursday, saying that better livelihood is more important than economic data.

China reported growth rate at 7 percent over the first six months in 2015, a widely-regarded subdued performance compared to the previous double-digit growth.

What China has done, however, is "by no means easy" for a $10-trillion economy, Li said at the annual meeting of the New Champions of the World Economic Forum, also known as Summer Davos, in the northeast port city of Dalian, Liaoning province.

What makes China's achievement remarkable is, Li added, that its economic statistics still outclassed most of other economies still reeling from a global slowdown.

In display of how Chinese economy is restructuring well, service industry contributed 50 percent to the gross domestic product (GDP), said the premier. High-flying sectors also include IT, culture, and tourism and environmental protection-related businesses.

Li also said that the government aims to make people better off. Some 7.18 million jobs were created in the first six months, keeping city unemployment rate down at 5.1 percent.

"Lower growth rate is acceptable as long as jobs are created, people are getting better paid and there's less pollution," said the Premier.

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