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China not distracted by short-term fluctuations: Premier
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CHINESE Premier Li Keqiang on Wednesday said the government was not distracted by the slight short-term fluctuations of individual indicators of China's economy given its new normal state.
"We focused more on structural readjustment and other long-term problems, and refrained from being distracted by the slight short-term fluctuations of individual indicators," Premier Li said in his keynote speech at the Annual Meeting of the New Champions 2014, which opened Wednesday in north China's port city of Tianjin.
The premier's remarks at the forum, also known as the Summer Davos, came after electricity consumption, freight volume and other indicators showed signs of slowdown in July and August.
"That was inevitable and within our expectation," Li said, "because the domestic and international economic situation was still complex and volatile and year-on-year growth was also affected by base figures."
China's power consumption slowed again in July, expanding only 3 percent year on year, which was sharply lower than the 5.9-percent recorded in June, according to the National Energy Administration.
The NEA was yet to release its latest figure later this month.
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