Minister rules out stimulus package

China brushed off global concerns over its economic slowdown, the latest display of policymakers shifting focus from high growth to structural reforms.

The world's second-largest economy won't seek high growth for the sake of other nations, Finance Minister Lou Jiwei said, ruling out large fiscal stimulus measures to boost growth this year.

"Finance ministers from many other countries expressed their hope to see a higher growth rate from China," he was quoted by Xinhua News Agency as saying on the sidelines of the G20 meeting of finance ministers and central bank governors in Moscow on Saturday.