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Communist Party of China CPC>>News
17:18, August 16, 2012

China can fulfill year's growth target: Premier (2)
Chinese Premier Wen Jiabao (3rd R, front) visits the Elegant Prosper garment company in Jiaxing, east China's Zhejiang Province, Aug. 15, 2012. Wen made an inspection tour in Zhejiang on Tuesday and Wednesday. (Xinhua/Li Tao)
Dragged down by a lackluster external market and government efforts to cool inflation, the country's GDP growth hit a three-year low of 7.6 percent in the second quarter of 2012.

Government leaders, enterprises and the whole society should have confidence, especially in times of difficulty, Wen said, calling for government authorities to carry out work in line with new conditions and local realities.

During meetings with local entrepreneurs in Zhejiang, where GDP growth rebounded slightly in the second quarter, Wen said the economy has shown positive changes over recent months, especially since July, as both investment and consumption have grown steadily.

Wen said industrial production in eastern regions is picking up slowly, with July's industrial output growth in Guangdong, Zhejiang and Jiangsu up by 1.4, 1.9 and 0.7 percentage points, respectively, from those recorded in the first half.

Wen also cited a stable job market, which saw 8.12 million new urban jobs created in the first seven months, up 390,000 from the same period of last year, and easing price gains, which provides more room for monetary loosening.

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