China will meet growth target, says Wen Jiabao

Chinese Premier Wen Jiabao has said the world's second largest economy can meet its growth target this year in an effort to allay concerns over recent economic data.

Jiabao made the statement during a two-day inspection tour of eastern Zhejiang province, according to state broadcaster Xinhua, Bloomberg reported today. "We have the conditions and capabilities to fulfil this year's economic and social development target," said the Chinese Premier. He acknowledged downward pressure remained "relatively large" and difficulties were set to continue for some time, China National Radio reported. Meanwhile China Central Television quoted him saying that rising prices were easing and there was "growing room for monetary policy operation". Jiabao said la...