Wen Sees Economic Balancing Act Necessary

Chinese Premier Wen Jiabao stressed the importance of striking a balance between rapid economic growth, economic restructuring and inflation during an economic forum held in Changsha, Hunan Province.

Wen said China's economic situation was good but added that the world economy faces “very complicated” challenges.

In terms of marco-economic regulation, China faces more "dilemmas," said Wen, adding that the government must fix long-term structural problems while focusing on pressing economic issues. 

Wen reiterated that China will ensure the continuity and stability of its macro-economic policies but increase flexibility in policies while "laying foundations for stable and relatively fast economic growth for 2011 and the longer term."

The National Bureau of Statistics last Friday revised economic growth figures upward for 2009 to 9.1 percent from 8.7 percent due to higher contributions from secondary and tertiary industries. In 2008, China's economy grew by 9.6 percent.