CHINA’S top economic planner said Thursday that China will not introduce strong stimulus measures to prop up the economy.

    Xu Shaoshi, the minister in charge of the National Development and Reform Commission, made the comments hours after Premier Li Keqiang announced that China’s economic growth target has been lowered to around 7 percent in 2015.

    China’s confidence in achieving its economic growth rate of around 7 percent this year has not been weakened despite rising downward pressure, Xu said. The economic development has entered a “new normal” and economic fundamentals are improving, he said.

    The growth rate has turned downward, but it is not in a free fall, he told a press conference.

    He noted that overseas demand was unlikely to improve and there remained potential risks in the property market and financing and among enterprises, but there is still big room for measures of macro-management.

    The government has strengthened macro-management, including cutting benchmark interest rates, reducing taxes and fees as well as intensifying investment, he said.

    Some composite leading indicators are slightly rebounding although they stood at low levels in January, he said. (Xinhua)