RTTNews - China will continue a moderately loose monetary policy and proactive fiscal policy as the economy reached in a critical phase, Premier Wen Jiabao said.
According to a statement published on the government's Web site regarding the Premier's tour to the cities of Tangshan and Qinghuangdao in north China's Hebei Province, Wen promised to supply enough cash into the financial system to keep the economy growing in an adverse condition. He said the government's 4 trillion yuan spending plan offsets a fall in trade.
The Premier said the international financial crisis has hit the country's iron and steel industry severely and said he is very concerned about this development.
Visiting Tangshan branch of Mengniu Dairy, a domestic dairy giant, he said last year's tainted-milk scandal caused damages to China's dairy industry and milk production has recovered only 80% since then.
Paying a visit to local job fairs in Tangshan, Wen reassured job seekers that employment would expand on a recovery in the economy.
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