China's top leaders have stressed the need for continued stimulative actions in the second half to help the economy stay on a positive growth track, its government said Friday.
"The government should stick to the pro-active fiscal policy and moderately loose monetary policy in the second half of this year," Chinese
President Hu Jintao said in a statement posted on the official Web site China's central government.
"We should strengthen our awareness of current risks and challenges the country is facing in economy, and firmly implement the central government's policies to ensure a stable and relatively rapid economic development," Hu said.
He also said the government would push forward long-term mechanisms for boosting domestic demand, implement consumption measures and increase the influence of consumption in its contribution to the economy.
Echoing Hu's remarks, Chinese Premier Wen Jiabao was quoted as saying on the government Web site that the country's economic policies would aim at balancing the goals of containing inflation and ensuring relatively fast growth.
The Chinese leaders' comments come as the growth of the world's third-largest economy slowed in the second quarter of this year from three months earlier as it tightens credit to curb a property bubble.
The Chinese government said last week that the country's gross domestic product, the value of goods and services produced in the economy, expanded 10.3 percent on-year in the April-June period, compared with an 11.9 percent surge in the first quarter.
Market watchers expect the Chinese economy to lose steam in the coming months. China will experience a fall in exports due to a potential financial crisis driven by European countries and the appreciation of its currency, they said.
China's state-run think tank State Information Center has forecast the Chinese economy will grow 9.5 percent for all of 2010, close to the average
annual growth rate the country has posted since 1978.
In late 2008, the Chinese government pumped 4 trillion yuan (US$590.2 billion) in order to counter the global crisis.