Elevate your local knowledge

Sign up for the iNFOnews newsletter today!

Select Region

Selecting your primary region ensures you get the stories that matter to you first.

China’s Wen promises measures to boost consumer spending, stabilize slowing growth

CP20078252
Chinese Premier Wen Jiabao is shown on a television camera\'s monitor screen as he delivers his opening speech for the World Economic Forum\'s \'Annual Meeting of the New Champions\'in Tianjin, China Tuesday, Sept. 11, 2012. (AP Photo/Andy Wong)

BEIJING, China – China’s premier has promised more tax cuts and measures to boost consumer spending as the government tries to reverse a worsening economic slowdown.

Premier Wen Jiabao told the World Economic Forum on Tuesday that China’s economic growth rate is still within the government’s target range despite the slowdown. The steady decline in economic activity has prompted questions about whether the country can meet the official target of 7.5 per cent growth this year.

Wen promised tax cuts, measures to boost consumer spending and policies to support private sector investment but gave no details. He expressed confidence China can achieve “robust economic growth” and improve development.

News from © The Associated Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

Want to share your thoughts, add context, or connect with others in your community?

Create a free account

The Associated Press

The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. More than half the world’s population sees AP journalism every day.

Related Articles