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.