China's Premier Wen Jiabao reassured the world on Friday that China would deliver on its promise of 8 percent growth in 2009 despite a slate of challenges, and could roll out extra stimulus spending if needed to meet the goal.
Wen also said he was closely monitoring the U.S. economy and was concerned about the safety of Chinese assets there, which he called on Washington to protect.
But Beijing does not think depreciation of its yuan currency would be appropriate currently, even though its export sector is under huge pressure as markets in industrialized nations crumble. The government wants to see a stable currency, he added.
In an annual news conference on the sidelines of the National People's Congress, China's largely ceremonial parliament, Wen said that stopping growth slipping below 8 percent would be a struggle, but the financial system was basically healthy. more...
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