Economy, Wen Jiabao | featured news

China's economy is still facing big downward pressure and the foundation of a recovery is not yet solid, Chinese Premier Wen Jiabao said during a trip to the country's coastal Zhejiang province, state radio said on Wednesday.

Premier Wen Jiabao of China on Sunday called for the government to become more aggressive in using fiscal and monetary tools to respond to a slowing economy.

Chinese Premier Wen Jiabao cut his nation's 2012 growth target to an eight-year low of 7.5 percent and made boosting consumer demand the year's first priority as Beijing looks to wean the economy off its reliance on external demand and foreign capital.

China is on course for another five years of robust growth, but inflation threatens social stability and must be tamed, Premier Wen Jiabao said on Saturday. In China's version of a "State of the Union" address to the annual parliamentary session, Wen said the top priority this year was to curb price rises that are hurting ordinary people in the world's second-largest economy.

Prime Minister Wen Jiabao said that China could expand social spending and pour money into strategic industries while still meeting its 8 percent economic growth target.

Chinese Prime Minister Wen Jiabao said the country's 8% economic growth target for this year is "extremely difficult" but still attainable.