Chinese VP underscores growth target, int´l cooperation amid crisis

Source: Xinhua | 03-22-2009 21:08

BEIJING, March 22 (Xinhua) -- Chinese Vice Premier Li Keqiang said here Sunday China is confident and capable of achieving its 2009 economic targets and will strengthen cooperation with the international community to fight the global financial crisis.

Chinese Vice Premier Li Keqiang addresses the opening ceremony of the China Development Forum 2009 in Beijing, capital of China, March 22, 2009. (Xinhua/Li Xueren)

Despite the financial crisis impact that increased difficulties for economic operations, "the fundamentals of Chinese economy and its good outlook in the long term have not changed," said Li at the opening of the China Development Forum 2009.

China has set an 8-percent target for annual economic expansion this year after diminishing foreign orders dented exports and slowed growth to a seven-year low of 9 percent year-on-year in 2008.

To boost domestic consumption and growth, the government will exert itself to tackle issues of immediate concern to ordinary Chinese citizens such as employment, education, health care, housing and environmental protection, said Li.

The country will speed up the building of a social security system covering both urban and rural residents and gradually perfect the social safety net that guarantees people's basic livelihood, he said. "This helps adjust income distribution and raise people's spending capabilities."

In addition, Li pledged stronger moves in reforming pricing, taxation and financial mechanisms to remove "institutional barriers" on the way of development.