China's premier again rules out short-term stimulus measures

Chinese Premier Li Keqiang on Thursday repeated that the government won't respond to the current economic slowdown by rolling out short-term stimulus policies.

“We won’t take short-term stimulus because of economic fluctuations. We will focus on its sound development in the mid- to long-term, for the sustainable and sound development of the Chinese economy,” Li told the Boao Forum in southern China's Hainan Island.

He reiterated that this year's 7.5% growth target is a flexible one and the main focus is on job creation. China’s reforms, which will further open up the country’s economy to market force, will help sustain stable growth, Li said.

He added China plans to link the stock markets in Shanghai and Hong Kong, and make its financial markets more open to the the rest of the world.