Li says he's confident of steady growth

Stable macroeconomic policies will boost the structural transformations and domestic demands that are now pillars of China's economy, Premier Li Keqiang said at a State Council meeting on Monday.

China's GDP increased by 6.7 percent year-on-year in the first quarter, which Li said surprised many foreign leaders.

Five speakers at the meeting agreed that consumption and the service sector have become important areas for growth. However, they also said that periodic and structural conflicts still exist and require a balance between economic growth and restructuring.