Premier Wen Jiabao praised China's recent macroeconomic control efforts as effective during a tour of Hubei province but said that there is more hard work to be done to right the economy. The premier said that over investment has dropped, during a meeting with Hubei officials. He said that the growth of the money supply and credit have slowed and that production prices have begun to decrease. Wen also noted that the economy has continued to grow, foreign trade has risen and government revenues have increased. Macroeconomic control measures were taken earlier this year in response to fears that over investment was causing the economy to overheat.
Categories