Economy

China's stimulus package benefits China, world

(Xinhua)
Updated: 2010-09-13 19:05

Chinese Premier Wen Jiabao speaks during the opening plenary session of the World Economic Forum Annual Meeting of the New Champions, also known as the Summer Davos, in North China's port city of Tianjin September 13, 2010. [Photo/Xinhua]

TIANJIN - China's stimulus package, policies and measures are timely, forceful and effective, which have not only benefitted the country but made important contribution to the world economic recovery, Premier Wen Jiabao said on Monday.

Related readings:  Summer Davos opens to stress sustained growth  4th Summer Davos starts in Tianjin  China's stimulus package benefits world recovery

He made the remarks at the World Economic Forum Annual Meeting of the New Champions, also known as the Summer Davos, in North China's port city of Tianjin.

"At a time of negative economic growth for major developed countries, the fast economic stabilization and rapid economic growth of China and other developing countries greatly boosted international confidence in overcoming the financial crisis and provided a strong impetus to the world economic growth," Wen said.

China's imports totaled $1.0056 trillion in 2009, with its trade surplus dropping by $102 billion, according to Wen.

In the first seven months of this year, China's imports hit $766.6 billion, up 47.2 percent from one year earlier and the trade surplus was reduced by $22.6 billion compared with the same period last year.

"This shows that China's economic growth has provided major development opportunities for the multinationals and created huge demand for major economies and neighboring countries," Wen said.

"It has become an important engine for the world economic recovery," he said.