Vice-premier stresses confidence in economy

BEIJING - Vice-Premier Zhang Gaoli has called for confidence in current economic policymaking, reiterating the need to properly handle the relationship between stabilizing growth, retooling the economy and promoting reform.

The economy has been generally stable since the year's start, but it is both driven by growth momentum and weighed on by downward pressure, Zhang said during a two-day research tour conducted in Southwest China's Guizhou province on Saturday and Sunday.

Zhang's comments came after official data showed that economic growth slowed during the second quarter.

The economy grew by 7.5 percent in the second quarter, down from 7.7 percent during the first quarter, the National Bureau of Statistics announced last week.

China should continue to carry out a proactive fiscal policy and prudent monetary policy, as well as make macro-economic controls more targeted and timely, Zhang said.

The government should implement decisive policy measures in financing and pricing, as well as lend support to necessary infrastructure projects and projects that can improve people's livelihoods, he said.

He also pledged more support for the service sector and export enterprises, especially small and micro-sized businesses.

More efforts should be made to cut administrative intervention and encourage private capital to enter industries that are in need of funds, Zhang said.

He also stressed the importance of resolving overcapacity problems and curbing environmental pollution.

Zhang also emphasized the need to build a modern industrial system in underdeveloped areas in central and west China while protecting the environment and advancing urbanization in a steady manner.