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Wen: China won't adopt stimulus exit strategy

By Zhang Jin (chinadaily.com.cn)
Updated: 2010-05-31 14:52

Tokyo - Premier Wen Jiabao warned Monday it is too early for China to adopt an exit strategy as the world's economy could slip into a recession again.

The visiting premier told a group of Japanese business people in Tokyo that China won't pull back from economic stimulus measures due to the uncertainties of the global economy.

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Although the world economy has recovered from the worst financial crisis in seven decades, "the recovery is very slow," he said.

The Greek debt fallout is likely to delay the recovery of Europe and add uncertainty to the European market, one of China's major export destinations, Wen said.

Listing major challenges facing the Chinese economy, the premier said China has to remain a relatively fast and stable economic growth, optimize economic structure and tame inflation.

"It is an arduous job," he said.

The price of agricultural produce, which accounts for 46 percent of China's CPI, are at the core of containing consumer prices, he added.

The summer yield of crops, despite the recent drought in Southwest China and floods in South China, will be close to the level of the same time last year. Wen didn't reveal last year's figures.

He also vowed to keep the housing prices "at a certain range".