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Premier Wen meets the press

By (chinadaily.com.cn)
Updated: 2009-03-13 15:12

Chinese Premier Wen Jiabao met the press at the end of the closing meeting of the Second Session of the 11th National People's Congress (NPC), China's top legislature Friday morning in Beijing.

Wen reiterated that confidence is still what China needs to carry out its all-around economic stimulus package, which has just been approved by the national legislature.

Wen said here that China's stimulus package plan was not fully understood by the world.

"Rumors and misunderstanding set the world stock market on a roller coaster ride," Wen told reporters at the conference.

The 1.18 trillion yuan from the central government is a totally new investment in China's stimulus package, said Wen.

He said that the central government fund will be spent on promoting the people's well-being, environment protection, key facilities and technology upgrading.

Wen also said that China is fully prepared for even worse conditions and is ready to put forward a new stimulus package.

Wen said to increase the contribution to the International Monetary Fund is not the matter of a single country.

Wen said that no country in the world has the right to put pressure on the devaluation or appreciation of the Chinese currency, and the requirement for the devaluation of the yuan does not fit the country's current situation.

Wen said at the conference that China is prepared for sustained difficult situations and has gathered "ammunition" to combat the crisis.

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Premier Wen meets the press