国内英语资讯:Xinhua Headlines: China expects positive GDP growth, achieving development goals_时事

国内英语资讯:Xinhua Headlines: China expects positive GDP growth, achieving development goals

Li said money invested in the people will be able to generate new wealth, help protect and preserve tax sources, and make public finance more sustainable.

"We will do our utmost to keep China's economic growth stable, and at the same time we must ensure that all measures taken are well calibrated," he said.

OUTMANEUVERING DIFFICULTIES

COVID-19 has taken a heavy toll on the global economy in a way rarely seen before, Li said. "As China's economy has become deeply integrated into the global economy, it is simply impossible for it to stay immune to the impact."

China will take targeted measures instead of massive stimulus to boost economic growth, Li said. "We have repeatedly said that we will not flush the Chinese economy with liquidity. We didn't do it and we will not do it now."

"Just as water is important to fish farming, sufficient liquidity is important to economic development," Li said. "But excessive liquidity will induce froth in the marketplace where some people may attempt to muddy the waters and fish for arbitrage."

The country reserves policy space on the fiscal, financial, social security and other fronts, and is in a strong position to quickly introduce new measures should the situation call for it without any hesitation, Li said.

China will be able to fulfill the tasks and goals for the whole year and complete the building of a moderately prosperous society in all respects, he said.