Reforms will strengthen stock market

Given the recent fluctuations in China's stock market, the central bank and the banking and insurance regulatory authorities have taken several measures to boost market confidence. In fact, Vice-Premier Liu He addressed the media answering questions on several important economic and financial issues. Besides, the implementation of a series of favorable policies shows the Chinese governments' concern for and support to private enterprises, as well as its confidence in the stock market, which has acted like a tonic for the sluggish market.

Liu He said the Chinese economy would be stable and keep improving. On the financial front, monetary policy is prudent, financial structural deleveraging is progressing steadily, financial organizations' blind expansion is cooling down, and investments are becoming more rational.

According to National Bureau of Statistics' data, China's GDP grew 6.5 percent in the third quarter of this year, and national economic operations have remained within a reasonable range in the first three quarters, which are conducive to achieving the whole year's economic goals. Actually, the entire year's new urban employment goal was achieved in the first three quarters - as total employment exceeded 11 million.