Economic recovery will take some time, Chinese premier warns

Discussion in 'Wall St. News' started by ASusilovic, Aug 25, 2009.

  1. Premier Wen Jiabao has warned that the country still faces uncertainties despite signs of economic recovery, saying the government will maintain its macro economic policies.

    In a statement on the government's website,, Wen said Beijing will ensure a sustainable flow of credit and a "reasonably sufficient" provision of liquidity to support an economy that is facing fresh difficulties.

    "There are still a lot of unstable and uncertain factors ahead and the economic situation ahead is still very grave, although both the world economy and the national economy are now making positive changes," Wen said during an inspection tour to Zhejiang province from Saturday to Monday.

    China has shown increasingly positive signs of economic performance, but the country's economic recovery is still uncertain, Wen said.

    "We can clearly see that the foundations of the recovery are not stable, not solidified and not balanced. We cannot be blindly optimistic," he said.

    The effects of some government measures might fade, while others will take time to show results, Wen said, who gave no other details of potential problems

    Shanghai - 2,6 %.