Beijing - Premier Wen Jiabao says China's economy faces huge
pressure to slow further despite stimulus measures. Wen's remarks damp
hopes for a quick recovery from the country's deepest slump since the
2008 global financial crisis.
Companies and investors are closely watching the
world's second-largest economy for signs of a further slowdown which
could have global repercussions by hurting Chinese demand for goods from
the United States, Europe and other struggling economies.
State media said Sunday that Wen promised to
"fine-tune" the country's economic policies, but no details or new
initiatives were reported. Wen said the government will press ahead with
tax changes that would reduce the burden on many taxpayers, but gave no
Growth fell to a nearly three-year low of 8.1 percent in the first quarter.