Chinese premier stresses innovating macro-regulation, stabilizing economy

BEIJING -- Chinese Premier Li Keqiang has underscored the need to shore up economic growth and stabilize employment and prices, stressing efforts to consolidate the upward trend of economic recovery and promote high-quality development.

Li made the remarks during an inspection of the National Development and Reform Commission (NDRC) and the Ministry of Finance (MOF) on Thursday. He also chaired a symposium on the same day.

After listening to a report at the NDRC, Li hailed the crucial role of development and reform authorities in stabilizing the economy and promoting the construction of major projects and equipment upgrades.

At the MOF, Li said that the finance departments have played an important role in implementing the tax refunds, tax and fee cuts and deferrals and ensuring people's basic livelihoods.

China has made great development achievements in recent years despite severe challenges, Li said at the symposium.

He praised the contribution of development and reform authorities and finance departments in implementing the macro policies, stabilizing the economy, promoting the reform and innovation, and solving the most pressing difficulties of high concern to the people.

He also called for a good job in drafting the economic and social development plan for 2023 and the budget report, aligning them with the government work report, urging efforts to sum up the government's work in a down-to-earth manner, arrange key tasks scientifically, and accept the oversight of the people in accordance with the law.

Currently, China's economy is picking up momentum, as the consumption recovered at an accelerated pace in January and February and the market expectation strengthened significantly, Li said.

However, he cautioned the risks and challenges ahead, underlining continuous efforts to consolidate the growth momentum, and promote sustained and healthy economic and social development.