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China to stick to easy monetary policy : vice premier

Posted on: June 16, 2009


Reuters – Wednesday, June 17

BEIJING, June 16 – China will stick to its relatively loose monetary policy and proactive fiscal policy, state television quoted Vice Premier Li Keqiang as saying on Tuesday.

“China’s economic recovery does not have a solid foundation, and we should not underestimate the difficulties,” Li said, in comments echoing those made by Premier Wen Jiabao over the weekend.

An uptick in annual industrial output growth to 8.9 percent in May, together with a surge in fixed-asset investment and bank lending, have helped create optimism that the world’s third-largest economy could see an early recovery.

However, policymakers have struck a note of caution in recent weeks, saying that positive signs exist but that they need to continue to be vigilant.

Over the weekend, Wen said Beijing would beef up its 4 trillion yuan stimulus package if needed. [ID:nPEK27382]

(Reporting by Jason Subler and Zhou Xin, editing by Mike Peacock)

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