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Chinese premier rules out economic hard landing
Last Updated: 2014-06-19 00:02 | Xinhua
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Chinese Premier Li Keqiang (L) delivers a speech to Chatham House and the International Institute for Strategic Studies, two prestigious British think tanks, at the Mansion House in London, capital of Britain, June 18, 2014. (Xinhua/Pang Xinglei)

Visiting Chinese Premier Li Keqiang said here Wednesday that his country's economy is not heading to a hard landing and will continue to grow at a moderate to high pace.

The about 7.5-percent growth of the Chinese economy in recent years has given rise to skepticism and even worries of a hard landing, he noted while addressing a gathering co-hosted by Chatham House and the International Institute for Strategic Studies, two prestigious British think tanks.

"Here I honestly and officially promise all of you: That will not happen," he said at the event, which took place at Mansion House in the City of London.

Pointing out that China is still in the process of industrialization and urbanization and its development remains unbalanced, he said the development gaps between different regions and between urban and rural areas mean huge growth potential and domestic demand.

As long as China moves in the right direction, makes good use of Oriental wisdom and draws on Western experiences, its economy will keep growing at a moderate to high pace in the long run, he said.

As for now, he added, the Chinese government is employing precise adjustment and control measures to make sure that the pace of economic growth will be no slower than 7.5 percent so as to ensure job creation.

Meanwhile, Beijing will prevent consumer inflation from exceeding 3.5 percent so as not to impact people's livelihood, said the premier.

"We are able to carry out targeted control, and will not resort to strong stimulus," he said. "We are able to achieve the major economic indicators set for this year, including a 7.5-percent growth."

Given the scale of the Chinese economy, the second largest in the world, it is no easy task, he acknowledged, adding that if China makes it, it will not only benefit China itself but present the whole world with great development opportunities.

The Chinese premier is in London for an official visit to Britain. His ongoing two-nation Europe tour will also take him to Greece.

Li: Expansion not in Chinese DNA

Premier Li Keqiang sought to allay mounting fears over China's growing regional strength on Wednesday by highlighting the nation's long-held resistance to expansion and hegemony.

"Expansion is not in the Chinese DNA, nor can we accept the logic that a strong country is bound to become hegemonic," he told an audience of about 350 in London, including international studies researchers.

His comments were apparently made in response to fears over China's territorial disputes with its neighbors in the South China Sea. Recent rows with Vietnam and the Philippines over territorial claims in the South China Sea have raised regional tensions. >>>More

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