China’s Premier says he sees signs that the Chinese economy is recovering, but more efforts are likely needed.
WiredPRNews.com – Chinese Premier Wen Jiabao has stated that he has seen signs that the third largest economy in the world is making a recovery from the global financial crisis. As reported by Reuters, Wen stated during a London business dinner, “During the last 10 days of December it started to get better. The goods piled up in port started to decrease and the price of industrial products started to rise.”
Wen reportedly also told the Financial Times that despite the signs, more government stimulus efforts will likely be necessary. Wen is quoted as stating to the paper, “We may take further new, timely and decisive measures. All these measures have to be taken pre-emptively before an economic retreat.”
China has a population of 1.3 billion. The government has reportedly pledged 4 trillion yuan ($585 billion) for projects to help boost the economy.
Photo Credit: World Economic Forum