TIANJIN - Chinese Premier Li Keqiang on Wednesday said the government was not distracted by short-term fluctuations and assured the world of more quality-focused growth achieved through deepening reform and encouraging innovation.
Li's remarks came as signs of slowdown was observed in a few economic indicators in the past month, fanning speculation of subdued growth momentum in the world second largest economy.
"We focused more on structural readjustment and other long-term problems, and refrained from being distracted by the slight short-term fluctuations of individual indicators," Li said in his keynote speech at the Annual Meeting of the New Champions 2014, which opened Wednesday in north China's port city of Tianjin.
The premier urged the world to "look at the overall trend, the bigger picture and the total score" of the Chinese economy. He named a few areas of highlight including steady growth in employment, a surge of newly founded companies and better economic structure that were achieved despite strong downward pressure.
China's GDP expanded 7.4 percent from a year ago in the first half of this year with a slightly stronger second quarter, while the annual growth target was set at around 7.5 percent.
At the same time, the government rolled out a raft of reform measures including speeding up shantytown renovation and guiding credit into the agricultural sector and small businesses.
"We did not adopt strong stimulus, nor did we relax monetary policy. Instead, we push forward reform, adjust structure and try to benefit the people," the premier said.
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Economists upbeat on China | Sci-Tech, innovation to play crucial roles in China's long-term growth |