China can bear financial crisis

BEIJING - CHINA'S economy is strong enough to withstand the impact of the global financial crisis and may even help the world by maintaining fast growth, Premier Wen Jiabao was quoted as saying on Sunday.

'Our economic fundamentals haven't changed, and the economy is moving in the direction we expected,' Mr Wen was quoted as saying by the state-controlled Xinhua news agency.

'The strength of our financial institutions has generally increased, and their ability to make money and withstand risk has risen. Market liquidity is ample and the financial system is stable and safe,' he said.

'This will help us withstand any negative external impact. We're full of confidence in the development of the economy, and in the stability of the financial system.' Mr Wen, who made the remarks during an inspection tour to south China's Guangxi Zhuang region, said the best way his nation could help would be by ensuring fast economic growth at home.

'If a large country of 1.3 billion people can keep up stable and relatively fast economic growth, that's a big contribution to the world,' he said, according to Xinhua. -- AFP

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