Chinese Premier Li Keqiang is confident that the fundamentals of economy are on course to regain their strength. (Photo : Reuters)
According to Premier Li Keqiang, the Chinese economy is regaining its strength and is currently showing potential, flexibility and great resilience.
"The fundamentals of the economy are on course to improve. The potential growth rate of the economy can support growth of mid-to-high speed," the premier said on Friday at a seminar discussion on the country's economic situation.
When Li was in France last month, he remarked that China could achieve an annual growth target of around 7 percent.
The National Bureau of Statistics said earlier this July that indicators have suggested that in the recent months, the country's economy has already passed the worst point.
Economists and entrepreneurs who attended the seminar agreed that for 2015's first half and with the taking effect of national measures, "the Chinese economy has started to pick up steadily and positive factors are increasing," a statement released on Monday said.
"The performance of the Chinese economy in the second half of the year will be even better than in the first half," said Lian Ping, Bank of Communications chief economist and one of the attendees of the event.
According to Lian, the cuts in the money banks reserve and interest rates are already taking effect, further revealing that more obvious effects will be felt in the second half of the year.
Meanwhile, Li pointed out that the boosting of Chinese economy would require innovation and reform.
Premier Li urged enterprises to take the opportunities brought about by national strategies, including the Belt and Road initiative, Internet Plus and Made in China 2025.
Businesses involved in innovation, specifically those small and micro enterprises, should expect that the government will be giving them a wide range of resources, Li added.
