China’s Wen States There is Confidence The Country Will Reach its Growth Goals

“Chinese Premier Wen Jiabao said the nation has full confidence it will meet its economic goals for the year and signaled there’s more room for fiscal and monetary policy to support growth.

The country will continue to place more emphasis on ensuring stable growth, Wen said today at the World Economic Forum in the Chinese city of Tianjin. China will maintain a proactive fiscal policy and prudent monetary policy and has implemented a series of steps to promote domestic demand, Wen said.

The comments signal the government is prepared to take further steps to achieve the target of 7.5 percent growth for the year set in March. Wen is grappling with slowing industrial output expansion and a slide in export gains, increasing pressure to ease policy as China tries to ensure a smooth transition of power to a new generation of leaders.”

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