China’s Premier Wen: Have successfully controlled fiscal risks
- Non-performing bank loans within comfortable zone
- But risks from local govt financing are increasing
- China has become important engine of global economic recovery
- Prices basically stable, economy in good shape
- Confident in maintaining relatively fast economic growth
- China does not seek a trade surplus (a big pink thing just hurtled past my window)
- Deep impact of financial crisis has not been completely overcome
- Will build long-term mechanism to boost domestic consumption
- Increasing domestic consumption is key to overcoming economic problems
- Managing inflationary expectations is still a core goal
- Will maintain policy stability and enhance flexibility
- Stabilizing housing prices is key job of all local govts
- Will discourage speculative buying of property
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