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Speaking during a visit to London, Li said he
expected China's economy, the world's second largest after the
United States, to grow at a minimum of 7.5 percent and the
Consumer Price Index to grow by not more than 3.5 percent.
He said Beijing would not resort to "strong stimulus" but would
rely on targeted measures to ensure growth was met.
"There have been some discussions saying that the Chinese
economy is slowing down, they are worried whether the Chinese
economy will head to a hard landing. Here I will be very frank
and I will also make this point very solemnly: this will not
happen," Li said.
"I do believe that the Chinese economy will maintain medium to
high level growth rate in the long run," he said. "So the
minimum growth rate we expect is 7.5 percent to ensure job
creation and the ceiling that is CPI growth will not exceed 3.5
(percent) so that people’s lives are not affected."
In a speech at the Mansion House in London's financial district,
Li said China would not resort to strong stimulus.
"We have the ability to maintain this targeted approach, we will
not resort to strong stimulus, but rather smart and targeted
regulation to ensure that major economic indicators, including
the 7.5 percent growth target, remain and ensure a sustained
rate in the future," Li said.
(Reporting by William James, writing by Guy Faulconbridge,
Editing by Belinda Goldsmith)
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