Chinese Premier Li in comments from Friday being posted on newswires today.
- the financial sector should promote market-oriented reform and create sound environment for economy
- call for continuing prudent mon pol and balance between easing and tightening
- asks fin sector to provide "necessary funding" to some companies in temporary difficulties with promising prospects
- reiterates prevention of financial risks, guiding and stabilizing expectations
The comments are from a meeting in Beijing with executives from various domestic financial companies inc banks and insurers
Yesterday I reported comments from Premier LI saying 7% GDP growth in China "isn't easy".
In other comments out today Yu Bin, head of the micro economy research dept at the State Council's Development Centre, called for increased infra structure investment as key to stabilising China's economic growth. He also called on the central bank to lower the cost of financing for companies and increase overall credit
More easing on its way perhaps. Let's see how the Q3 GDP pans out
I'm heading away again now to watch the Aussies and Scots do battle in the rugby union World Cup quarter-finals. As an Englishman with Scottish ancestry on my father's side but, as a multi-time visitor to Australia, also with fond affection for Oz and it's people I shall watch this one with divided loyalites! Talking of rugby though I was so impressed with the All Blacks yesterday. An absolutely awesome performance
Enjoy the rest of your week-end everyone
Chinese Premier Li - Looking for more support from the financial community