Premier Wen confident of 7 percent economic growth

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Last updated at: (Beijing Time) Tuesday, October 07, 2003

Premier Wen confident of 7 percent economic growth

Chinese Premier Wen Jiabao expected the country's economic growth this year will reach 7 percent, judging from the current economic situation.

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Chinese Premier Wen Jiabao expected the country's economic growth this year will reach 7 percent, judging from the current economic situation.

Speaking Tuesday at the first ASEAN Business and Investment Summit in Bali, Indonesia, Wen Jiabao said China's GDP grew 8.2 percent in the first half of this year, despite the SARS outbreak.

The Premier also reiterated that the stability of the renminbi exchange rate is conducive to stable economic and financial development, not only in China, but also in the region and the world.

He noted that the market-based, single, managed floating exchange rate system adopted by China meets the needs of China's economic situation, and is also in the best interests of the rest of the world.

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