China’s Rebound Requires More Solid Foundation

Chinese Premier Li Keqiang said the foundations of a growth rebound aren’t solid while cautioning that stimulus won’t help resolve deep-rooted issues in the world’s second-largest economy.

“The foundation of an economic recovery is not solid yet with many uncertain factors,” Li said in a speech yesterday at the World Economic Forum in Dalian, China. The nation is taking steps to stabilize growth and can achieve the main economic targets this year, Li said.

Policy makers have signaled they will defend a 7.5 percent expansion goal for 2013 and seek to ensure a pace of 7 percent in the coming years. Li pledged reforms that will ripple throughout the financial system as Communist Party leaders prepare for a November meeting to lay out a blueprint for sustaining long-term growth.


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