On August 28, Chinese Premier Li Keqiang chaired a State Council special meeting on new developments in the global economic and financial field and their implications for China and China’s policy responses. It was the first time that he called for such a special meeting, indicating that China faces tough issues in the area of economic growth.
Four vice premiers, three State Council members, the President of China’s central bank, the minister of finance, the head of the Development and Reform Commission, and the Chairman of the China Securities Regulatory Commission attended the meeting.
Li said that recent world market volatility has created new uncertainties for the global economic recovery. The growing implications for China’s financial market as well as for imports and exports have placed new pressure on the Chinese economy. Financial stability affects the overall Chinese economy. Risk management needs to be improved and perfected to defend the bottom line of preventing regional or systemic risks.
Source: The Central People’s Government of China, August 29, 2015