China’s structural reforms are improving the quality of the country’s economic growth and helping reduce the risk of a hard landing, Premier Li Keqiang told the opening plenary of the World Economic Forum in Tianjin Wednesday.
“Instead of adopting strong economic stimulus or easing monetary policy, we have vigorously promoted reform and economic readjustment,” he said. “The measures…enable us to prevent major [growth] fluctuations and make a hard landing even less possible.”
China’s economy expanded an annual 7.5 percent in the second quarter after growing 7.4 percent in the first quarter, its slowest pace in six quarters. Beijing has set a 7.5 percent growth target for the full year.