China PM says his country ‘on track to hit growth targets’

PanARMENIAN.Net - China's Prime Minister, Wen Jiabao, has told the World Economic Forum in Tianjin that his country is on track to hit growth targets for this year, BBC News reported.

He also called on international leaders to strengthen co-ordination and oppose trade protectionism during the global economic slowdown.

His address comes amid signs that China's economy may be slowing faster than previously thought.

Manufacturing and export growth have slowed, while imports have dipped.

But Mr Wen said: "We are fully confident that we have the conditions and capability to overcome difficulties on the way ahead, maintain fast and stable economic growth and realize development at a higher level and with better quality.

"The economic growth is still within the target range set at the beginning of the year and is showing stabilising signs despite the slowdown."

He gave little detail on specific policies designed to stimulate slowing growth.

But he did call for world leaders to work together to boost global growth.

"I hope that the international community will strengthen macroeconomic policy co-ordination, push forward reform of the global governance structure, resolutely oppose trade and investment protectionism, and work jointly for an early, steady recovery of the world economy," he said.

China's exports have been hurt by slowing demand from key markets such as the US and eurozone. And because the economic climate in those two regions has failed to improve, the sector is likely to see slowing growth in the coming months.