The prospects for China's economy are positive even though the world's second largest economy continued to experience downward pressure, Chinese Premier Li Keqiang said today.
At a meeting of company executives at the World Economic Forum in the northeastern port city of Dalian, Li said China would maintain basic policy direction but get prepared to make pre-emptive adjustments.
"We won't be swayed by short term economic fluctuations in our big picture direction," Li said.
Li said the creation of over 7 million new urban jobs and keeping unemployment rate at 5.1% in the first half of this year showed China's economy was on "reasonable track".
The increase in consumption and service sector's portion of economy also showed government policies had gained traction, Li said.
He pledged to push ahead with structural reforms while stepping up targeted regulatory measures.
China's economy grew 7% in the first half from a year earlier - in line with the government's target for 2015, but recent downbeat data has raised risks of missing the full-year target.
The Premier also said that China needs to maintain reforms in many areas to ensure its financial stability.
The government has rolled out measures to prevent financial market risks from spreading, and that has forced out the possibility of any systemic risks, Li said.
Government measures were in no way meant to weaken the role of financial markets, he told the forum.
"(We) will persist with a market-oriented, law-based system to establish an open and transparent capital market," he stated.
Regulators also will continue to develop multi-layered markets, while improving market access for private banks and foreign companies, he said.
In the same panel discussion, Li said all the risks of government debt are under control.