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"We must adopt more powerful measures to
consolidate the trend of improvement (in the economy) and
withstand the downward pressure (on growth)," Li said.
"We are confident and capable of keeping economic growth within
a reasonable range, and meeting the main (economic) targets for
this year," he said in a teleconference speech the government
published on Friday.
The economy grew 7 percent in the first quarter of this year,
the slowest pace in six years, and April data suggest the
economy lost more momentum heading into the second quarter,
highlighting the policy challenges facing Beijing.
Li noted, however, that China added 4.45 million new jobs in the
first four months of the year, compared with a target of at
least 10 million for this year.
He added that a survey-based unemployment rate compiled by the
government had retreated in April, and growth in factory output
edged up that month.
China's central bank cut interest rates at the weekend, the
third cut in six months, to lower companies' borrowing costs and
boost activity.
The central bank has also lowered banks' reserve requirement
ratios (RRR) twice this year to spur bank lending and economic
growth, and relaxed restrictions on home purchases to shore up
the ailing property market, which accounts for about 15 percent
of the economy.
(Reporting by Judy Hua and Koh Gui Qing; Editing by Eric Meijer)
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