Wen says stimulus plan is working, but crisis not over

Source: Xinhua | February 28, 2009, Saturday |

Online Edition

CHINA'S stimulus measures have shown initial effects but the global financial crisis has not bottomed out yet and its impact is still spreading, said Chinese Premier Wen Jiabao during an online chat today.

The major influence of the crisis on China is on the country's real economy instead of financial sectors, he said.

"We must strengthen confidence in the face of the crisis and be ready to take firmer and stronger actions whenever necessary," he told netizens.

The government unveiled a 4-trillion-yuan (US$588 billion) economic stimulus plan in November to boost growth.

China's stimulus measures have shown initial effects and produced good results in certain areas and fields, said Wen.

"Some key indicators showed the economic situation has somewhat turned better," he said. "But those were just temporary indices and couldn't be fully compared with the past figures."

"We must fully realize we are facing a long-term and arduous task," he said.

Economy

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Wen says stimulus plan is working, but crisis not over

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