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China Premier Li reiterates plans for economic "fine tuning"

Published on May 29, 2014 9:39 AM
Chinese Premier Li Keqiang delivers a speech during the opening ceremony of the Annual Meeting of Global Research Council at the Great Hall of the People in Beijing on May 27, 2014. Mr Li said that China would adopt moderate fine tuning of its economic policies. -- PHOTO: REUTERS

SHANGHAI (REUTERS) - China's Premier Li Keqiang said that the country would adopt moderate "fine tuning" of the country's economic policies, the official China Daily reported on Thursday, reiterating statements he made on state radio at the end of last week.

Mr Li made the comments in a meeting on Wednesday, saying that the country was taking action described as "timely and moderate pro-cyclincal fine tuning".

He added that fiscal and monetary policy would remain largely intact, the paper reported.

China's annual economic growth slowed to an 18-month low of 7.4 percent in the first quarter, raising the risk that China could miss its economic growth target - set at 7.5 percent in 2014 - for the first time in 15 years.