|Page (1) of 1 - 09/11/12||email article||print page|
US-CHINA-ECONOMY-WEN-FISCAL:China economy initiatives within budget, Wen says
TIANJIN, China (Reuters) - China's Premier Wen Jiabao said all the initiatives undertaken by the government so far this year to stabilize growth in the world's No.2 economy were within budgeted expenditures.
Wen, speaking at the World Economic Forum in China's eastern port city of Tianjin on Tuesday, said Beijing was in fiscal surplus of about 1 trillion yuan in the year to date.
But he added that the central government would tap a special stabilization fund if needed to support economic activity.
"There is around 100 billion yuan left in the stabilization fund as of this year," Wen said.
Wen's comments come after China's President Hu Jintao warned at the weekend that the world economy is hampered by "destabilizing factors and uncertainties" and that the 2008/09 financial crisis is far from over.
Hu promised China would do all it can to foster a global recovery by rebalancing its economy.
(Reporting by Aileen Wang and Melanie Lee; Editing by Nick Edwards)