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Vice finance minister: Chinese economy to further strengthen steady development trend

Source:   Time:

BEIJING, June 29, (Xinhuanet) -- With a series of policies being carried out, China’s economy will further strengthen the steady development trend in the second half of 2015, China's Vice Finance Minister Zhu Guangyao said on Monday.

In an interview with Xinhuanet during the first Universal Credit Rating Forum in Beijing, he said China is confident about attaining this year's growth target of around 7 percent.

Stabilizing growth is very important for China’s economy at present, he said, and a proactive fiscal policy should be implemented which includes appropriately raising fiscal deficit and put surplus budgetary funds to good use to meet the needs of economic construction and give full play to the efficiency of public finance.

At the same time, he said China’s economy is facing more severe external environment as the world economic recovery is quite slow. The World Bank cut the global economic growth again to 2.8 percent in June and the International Monetary Fund (IMF) is predicted to lower the rate to 3.3 percent from 3.5 percent.

Therefore, China needs higher macro-economic management skills and makes more efforts to maintain quality, efficient growth, he said.

World Credit Rating Forum, a forum first of its kind in human history, was held in Beijing. It brought together participants from the political, economic, credit rating and financial circles worldwide in a bid to conduct broad and detailed discussions over the reconstruction of world credit rating pattern and make joint efforts to promote the process of reforming the international credit rating system.

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