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Wen Says Consumption To Spur Future Growth


Chinese Premier Wen Jiabao says China will look to its own consumers in the future to spur economic growth.

Chinese Premier Wen Jiabao says China will look to its own consumers in the future to spur economic growth.

Chinese Premier Wen Jiabao says China will rely on domestic consumption to spur economic growth in the coming years.

Wen made the remark in a speech to open the World Economic Forum, or "summer Davos", in the northeastern port city of Dalian.

Wen also said China would keep monetary policy tight to keep in check inflation, which fell to 6.2 percent in August from a three-year high of 6.5 percent in July.

He said slowing economic growth was a result of the government's tightening steps and was "within expectations."

Wen also said China is willing to invest more in European countries, and called for European countries to recognize China as a market economy.

Wen called for the international community to better work together to face global challenges and expressed confidence in the full recovery of the U.S. economy.

compiled from agency reports
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