China’s Premier Li assembles economic experts ahead of hotly anticipated first-quarter data release
- Li Qiang’s chat with business leaders and trusted economists puts onus on what can be done at home while external environment becomes ‘increasingly complex, severe’
- Analysts are becoming more upbeat on China’s economic growth outlook, with expectations rising, but also calls for more fiscal stimulus
While getting the lay of the land from economists and entrepreneurs on Monday, Premier Li Qiang painted a big bullseye on sustainable economic growth while acknowledging what has been a persistent lack of demand and pledging to remove on-the-ground barriers.
In discussions concerning the current state of the world’s second-largest economy – about a week before the anticipated release of first-quarter data – China’s No 2 official discussed what still needs to be done against the backdrop of domestic hurdles and mounting external uncertainties.
China needs to “focus on scientific and technological innovation to promote industrial innovation and the outstanding issue of insufficient effective demand” as it looks to build internal growth momentum, an official readout quoted the premier as saying in the Monday meeting.
The first-quarter economic data, scheduled to be released by the National Bureau of Statistics next Tuesday, is poised to provide fresh insight into the country’s economic recovery and help gauge how leadership intends to keep China’s gross domestic product (GDP) growth at “around 5 per cent” this year.
