China to keep continuity, stability of economic policy

(Xinhua)
Updated: 2009-11-12 20:50

BEIJING: China will maintain the continuity and stability of its economic policy as its effort in coping with the global financial crisis has scored remarkable achievements, Vice Premier Li Keqiang has said.

"Positive changes have taken place in world economy along with enhanced confidence of the international community and a financial market turning back into normal track, and some emerging economy are in the front rows in the recovery process," Li said Wednesday when he met with some Nobel Laureates and prominent economists who were in Beijing for a forum.

The basis for the recovery of world economy is still unsteady and the real economy is facing such vital challenges as sliding trade and increasing unemployment, Li said.

"There's still a period of time for the world economy to realize a sound and comprehensive recovery," Li said.

The world economy, meanwhile, is experiencing major adjustment and change, and the settlement of some vital issues needs joint efforts from the world community, Li noted.

He named such challenges as climate change, unbalanced development between the North and South hemispheres, security of energy, resources and food, as well as public sanitation.

The Chinese economy, Li said, is witnessing an enhanced foundation for recovery and China will enhance the flexibility and sustainability of its policies while maintaining their continuity and stability, he noted.

With such policies, China seeks balance between a steady and fast economic growth, the restructuring of its economy and the management of the expectation of inflation in a bid to realize a sound, fast and lasting economic and social development, Li said.

Li, as well as the Nobel Laureates including James A. Mirrlees, Robert A. Mundell and other economists, said they believe the current crisis will stimulate the development of economic science.