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China's Wen says economy still under pressure

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.

China cuts growth target to 8-year low, to boost consumption

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.

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