Chinese premier Wen Jiabao says economic woes to continue
Wen said Chinese need to recognize the seriousness and complexity of the challenges the country faces. But he added that China’s economic fundamentals remain favorable, even if the economy hasn’t fully stabilized.
“At present, our country’s economic growth rate remains within the target range set earlier this year and we are seeing the effectiveness of stabilization policies,” Wen said during a tour of the southwestern city of Chengdu on Saturday. His remarks were posted Sunday on the central government’s official website.
“However, we also need to soberly see that the current economy has not yet formed a stable recovery and the economic difficulties may continue for some time,” he said.
The government will prioritize job creation and provide financial aid and tax breaks to companies suffering from slowing exports due….”