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The
government would make sure it achieved its main economic
development targets this year, state radio quoted Li as telling
a regular cabinet meeting.
Li said the government would closely watch the economic
situation at home and abroad.
The government has set a growth target of 6.5 percent to 7
percent for 2016. The world's second-largest economy expanded
6.9 percent in 2015, its slowest pace in a quarter of a century.
The government would "make good use of fiscal and monetary
policy tools to strengthen preemptive and timely fine-tuning,
prepare policy reserves and effectively guard against various
risks", Li said.
It would allocate fiscal funds and launch major investment
projects quickly this year and make sure planned policy and
reform measures were implemented.
China's central bank won't resort to excessive stimulus to
bolster growth but would keep a flexible stance in the event of
an economic shock - domestic or global, Governor Zhou Xiaochuan
said earlier.
Li also said that China would expand tax reforms to replace a
business tax with a valued-added tax in the construction,
property and financial services sectors, effective from May 1.
The VAT reform, which was launched in 2012 as a trial program,
has been applied to railway transport, postal services,
telecommunications and some service sectors.
The tax reforms will cut firms' tax burdens by more than 500
billion yuan ($77.21 billion) this year.
(Reporting by China Monitoring Desk and Kevin Yao; Editing by
Nick Macfie)
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