Wen Says Investment Now Key to Stabilizing China Growth: Economy

Premier Wen Jiabao said promoting investment growth is the key now to stabilizing China’s economic expansion, signaling officials may boost spending to counter a slowdown that probably extended into a sixth quarter.

Stabilizing economic growth is not only a pressing priority for China now, it is also a long-term “arduous” task, Wen said in a statement posted on a government website yesterday. “Growth-stabilizing policies include boosting consumption and diversifying exports, but currently, what is important is to promote a reasonable growth in investment,” Wen said.