Premier Li aims for steady economy in 2014

Premier Li aims for steady economy in 2014
China's Premier Li Keqiang

CHINA- China's economy and financial market will be on a steady path in 2014, Premier Li Keqiang said on Friday during a trip to Tianjin.

The country has the conditions in place to maintain the "smooth running of its economy and the general stability of its financial market" in the year to come, Li said.

He added that this could be achieved by pushing ahead with economic reforms and opening up the market, according to an article released on Sunday.

Li also said the government will keep a stable fiscal policy in 2014, maintain liquidity at an appropriate level, maintain reasonable growth of monetary credit and social financing, and keep the basic stability of the overall price level.

Li highlighted the supporting role of the financial industry in China's real economy during the one-day trip in Tianjin.

During his time in the city, he visited a sub-branch of the Industrial and Commercial Bank of China Limited, one of the bank's financial leasing companies, a café-like incubation centre that provides services for start-up companies, and an impoverished downtown area.

The premier pledged to push forward with financial reforms and improve the financial market's ability to support the real economy in 2014.

"Financial industry should collaborate with real economy to achieve a win-win situation. It must develop according to the need of real economy," Li said.

"Real economy requires the support of the financial market, while the smooth operation of real economy benefits the financial market in return."

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