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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China to maintain stimulus push: Wen AFP - Friday, September 11 DALIAN, China (AFP) - - Chinese Premier Wen Jiabao said on Thursday his nation's economic recovery remained fragile and that it was too soon for Beijing to reconsider its current stimulus policy. ADVERTISEMENT "The recovery momentum of the Chinese economy is not yet stable, nor is it consolidated or balanced," Wen said in a speech opening the World Economic Forum's annual meeting of "new champions" in the Chinese port city of Dalian. "Downward pressures on foreign demand (for Chinese products) remain enormous, while there are many factors restricting the expansion of domestic demand in the short term," said Wen. "We should not change our policy direction at an inappropriate time," he told the audience of foreign and domestic business executives and government officials. China last year unveiled an unprecedented four-trillion-yuan (580-billion-dollar) stimulus package aimed at boosting domestic demand as exports plunged and economic growth slowed. The world's third-largest economy expanded by 7.9 percent in the second quarter of 2009, up from 6.1 percent in the first quarter, mainly as a result of massive government investment. However, growing concern has emerged over possible asset-price bubbles and higher inflation. But Wen said China would maintain its loose monetary policy aimed at promoting fast economic growth, noting that these policies had helped "curb a downward trend". "We will continue to keep maintaining stable and fast economic growth as our top priority, firmly implement a proactive fiscal policy and moderately loose monetary policy, and fully implement and constantly improve the stimulus package," he said. Wen also called for global coordination on climate change and urged developed nations to slash carbon dioxide emissions. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: China's Economy China unlikely to lead global recovery-Morgan StanleyReuters - Friday, September 11 China data buoys Asia sharesReuters - Friday, September 11 China's Taobao sees 2009 sales more than doublingReuters - Friday, September 11 China says 'good foundations' for growthAFP - Friday, September 11 Related Articles: Business Nikkei slips after futures settlement, yen hurtsReuters - Friday, September 11 Indonesia's sukuk auctions to start mid-Oct -officialReuters - Friday, September 11 Honda aims for leaner Japan ops to fight strong yenReuters - Friday, September 11 Record labels sue over use of songs on 'Ellen' showReuters - Friday, September 11 Markets bump up end-2009 S.Korea rate outlookReuters - Friday, September 11 Enlarge Photo China to maintain stimulus push: Wen Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Greenspan says further financial crisis 'inevitable' Refurbished Hubble reveals cosmic wonder Giant statues reveal red hat secrets: study OPEC holds oil output unchanged: statement Anti-piracy equipment dazzles defence fair View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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