- but the slowdown is stabilizing
- economic growth must be kept within a reasonable range
- employment and services among the bright spots
The downward pressure on China's economy increased somewhat since the start of this year
But while growth in industrial output and investment continued to slow, the government sees some signs of the slowdown stabilizing
There are also bright spots; for example, employment, services, high-tech industries, new industries, private investment and innovations
It's impossible and unnecessary for us to maintain the high-speed growth seen in the past
China's Vice Premier speaking at a conference in Beijing continuing the recent cautious theme by the govt and central bank.
The comments support the two interest rate cuts since November on top of a cut in bank reserve requirements in February, amid concerns about growing deflationary risks. More easing is expected.
Reuters carries more here
