Premier: China to focus on targeted policies

 Chinese Premier Li Keqiang says the government has re-affirmed its stance to keep economic growth at a reasonable range, with a focus on targeted policies.

Chinese Premier Li Keqiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) central Committee, addresses the nation's top academicians and scientists on economic situation in a conference in Beijing, capital of China, June 10, 2014. (Xinhua/Pang Xinglei)

Li made the comments today while speaking to academicians from the Chinese Academy of Sciences and the Chinese Academy of Engineering about the state of the Chinese economy.

Li said that the government will improve economic policies through innovation and by enriching its tool kit. The premier also said that innovation is the key driver of China’s ascension on the global value chain and its improvement in growth quality.

The premier pledged to shore up fiscal support for Chinese research and development while encouraging private capital to improve the efficiency of technological innovation.

Chinese Premier Li Keqiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, addresses the nation's top academicians and scientists on economic situation in a conference in Beijing, capital of China, June 10, 2014. (Xinhua/Pang Xinglei)

Chinese Premier Li Keqiang (R), also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, talks with an academician before addressing the nation's top academicians and scientists on economic situation in a conference in Beijing, capital of China, June 10, 2014. (Xinhua/Pang Xinglei)