Chinese Premier Li Keqiang gives a lecture at the Party School of the Communist Party of China (CPC) Central Committee, in Beijing, capital of China, Oct. 23, 2015. Innovative thinking on macroeconomic regulation and reform are essential to promoting economic growth and industrial upgrading, Li said Friday. (Xinhua/Liu Weibing)BEIJING, Oct. 23 (Xinhua) -- Innovative thinking on macroeconomic regulation and reform are essential to promoting economic growth and industrial upgrading, Premier Li Keqiang said Friday.
More targeted and flexible macro-control measures should be rolled out, including fiscal and monetary policies, such as interest rate and reserve requirement ratio cuts, to keep the economy running on a stable track, Li said at the Party School of the Communist Party of China (CPC) Central Committee.
As China's economic growth continues to slow and global financial markets fluctuate, China faces the tough task of stabilizing growth.
More reform measures, especially in fields of fiscal, taxation, banking, and state-owned enterprises, as well as a higher level of opening up to the world are also necessary for economic growth, Li said.
