Li Keqiang: The current economy focuses on steady growth and anti-inflation

On July 16, Li Keqiang, a member of the Standing Committee of the CPC Central Committee and Premier of the State Council, chaired a symposium on the current economic situation, where he listened to insights and recommendations from experts and business leaders. The event brought together professionals from research institutions, universities, and various sectors such as machinery, home appliances, energy efficiency, and finance. They shared their perspectives on the domestic economic landscape and global economic trends. During the discussion, participants highlighted that while China’s economy remains generally stable and shows progress in transformation and upgrading, it still faces challenges and risks. Li Keqiang actively engaged with the attendees, offering thoughtful responses and encouraging further research into key economic issues. He emphasized the importance of maintaining stability while promoting development and ensuring quality growth. Li Keqiang pointed out that China’s economy is currently navigating both favorable conditions and complex challenges. With global recovery being slow and domestic economic dilemmas becoming more pronounced, he stressed the need for wisdom, courage, and innovative thinking to guide the economy through these tough times. He called for a balanced approach, combining macroeconomic policies with strategic planning to ensure smooth and sustainable development. He also mentioned that some fluctuations in economic performance are natural, and the goal of macroeconomic regulation is to keep the economy within a reasonable range. This involves maintaining growth and employment at the lower end, while preventing inflation at the upper end. Li expressed confidence in achieving this year's economic goals, though he acknowledged that significant efforts will be required. As China enters a new phase of development, Li emphasized the importance of transformation and upgrading. He urged policymakers to not only rely on existing strategies but also to adapt and innovate. By integrating stable growth, structural adjustments, and reforms, a more scientific and effective macroeconomic framework can be established. This would help build market confidence, support long-term development, and foster a more dynamic and resilient economy. Moreover, Li stressed the need for precise and forward-looking macroeconomic control. It is essential to address both long-term strategic issues and emerging trends without being swayed by short-term fluctuations. He warned against changing policy directions abruptly or becoming complacent, as this could undermine the progress made in structural reforms. Instead, a combination of policy tools and market mechanisms should be used to drive innovation, ensure stability, and achieve sustainable growth. Ultimately, the goal is to transition toward a more efficient and high-quality economic model, enhance internal growth drivers, and improve people’s well-being. By doing so, China aims to build a stronger, more advanced economy that can withstand future challenges and continue to grow steadily over time.

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