Chinese Premier Wen Jiabao said the global economic crisis had made 2008 the worst year for China's development in recent memory, and warned of worse to come. His comments come as China struggles with its slowest growth in five years.
'We must be aware that this year is the worst in recent times for our economic development,' Wen said over the weekend.
'The global financial turmoil and the economic downturn are getting worse. Inflationary pressure remains large as world oil prices are still at a high level despite some corrections,' he said. 'All these negative factors have affected and will continue to affect China,' he warned.
China's growth slowed to 9% in the third quarter of this year, the lowest quarterly figure since the middle of 2003, partly due to a slowdown in exports.
The country's trade surplus for the first nine months of the year reached $180.9 billion, down 2.6% year-on-year, according to customs data.
Wen also called for a continued focus on inflation, which has emerged as a top policy concern over the past year. The consumer price index rose 4.6% year on year in September, compared with a 12% high of 8.7% in February, which was sharply higher than the 4.8% target set by the government at the beginning of 2008.
