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Premier: Economy at critical moment for recovery

(Xinhua/chinadaily.com.cn)
Updated: 2009-06-22 13:01

Related readings: PM: economy at critical moment US economy out of ICU, still fragile China's economy stabilising 'China to bolster E Asia economy'

SHIJIAZHUANG: Chinese economy is at a critical moment as it begins to recover "steadily", Chinese Premier Wen Jiabao said during a tour to north China's Hebei province over the weekend.

Beijing will continue to apply a pro-active fiscal policy and moderately relaxed monetary policy to boost the economy, Wen was quoted as saying by the Xinhua New Agency on Sunday.

China will also thoroughly implement its 10-sector stimulus plans, and strengthen its efforts in facilitating mergers and acquisitions, Wen was quoted as saying.

The Premier also visited a branch of Mengniu Dairy, a domestic dairy giant, to see how dairy makers are doing after the melamine contamination scandal.

Only 80 percent of the country's original capacity has been recovered since the scandal broke last September.

He called on the firm and the staff to be extremely thorough in food safety controls and try to win a good reputation via quality products.