China premier promises 'proactive fiscal policy'

China premier promises 'proactive fiscal policy'

Chinese premier Wen Jiabao has called for more priority to be given to boosting China’s slowing economic growth, a state news agency reported, after unusually weak industrial activity in April prompted alarm about the world’s second-largest economy.

During a weekend trip to the industrial city of Wuhan, Mr Wen promised to boost domestic consumption and strengthen Beijing’s economic controls, the Xinhua News Agency said.

“We should continue to implement a proactive fiscal policy and a prudent monetary policy, while giving more priority to maintaining growth,” he said, according to Xinhua. It gave no details of possible new initiatives.

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