BEIJING/SHANGHAI (Reuters) - China's economy has increased by nearly 10% in 2010, with retail sales up 18.5%, proving that it is now relying more on domestic consumption, Vice Premier Li Keqiang said in remarks published on Saturday.
"The driving force of domestic consumption is growing, and its increase has helped more than 90% economic growth (2010)," Li told business leaders in Berlin, according to a transcript of his speech published in popular official daily.
"We have confidence, conditions, and the ability to maintain a stable and economic growth fast long term", he said.
Central Bank Governor Zhou Xiaochuan said this week that gross domestic product increased 10% in 2010.
Li said China to expand domestic consumption and enable its residents to enjoy a greater share of rapid growth during the five coming years.
It also doubled confidence Europe could overcome the crisis of sovereign debt, saying Beijing has been attention to it and offers support.
China has publicly promised to buy debt of the Government of the Greece and the Spain, but it has refrained from providing specific values for its investments.
(Reporting by Chiang and Jason Subler Langi.) (Editing by Sanjeev Miglani)
No comments:
Post a Comment