China Premier Says Economy Is Under Pressure Day Before GDP Data
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Chinese Premier Li Keqiang said the economy faces increasing downward pressure as he and President Xi Jinping vowed reforms a day before the nation announces what’s expected to be its slowest annual expansion in more than two decades.
Li called for the development of new economic drivers and improvement of traditional industries to fuel a medium- to high-speed expansion, the official Xinhua News Agency reported, citing the premier’s speech to provincial governors and cabinet ministers on Monday. China should push forward supply-side reforms amid industrial overcapacity and develop emerging and service industries, Xi said at the same seminar at the Communist Party Central Committee’s Party School, according to Xinhua.