Chinese Premier Li Keqiang says on Thursday that China will not loosen policy to shore up its economy or calm a volatile money market, even though it has entered a "painful" phase of restructuring.
In an article published in the Communist Party of China's journal Qiushi, meaning Seeking Truth, Li repeated that his government was comfortable with a slowing economy as long as growth stayed within a "reasonable range". Premier Li Keqiang says that the government doesn’t have a preference over short-term stimulus measures. Li says in the article that pushing through deeper economic reforms was a wiser approach than relying on government spending and borrowing to produce growth.
