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The World Economic Forum opened on Wednesday in China's northeastern city of Dalian. Chinese leader Wen Jiabao spoke at the forum stressing that a "prudent" monetary policy will be put in place to control inflation in China.
Chinese leader Wen Jiabao announced on Wednesday plans to use a tight monetary policy to curb inflation. He stressed the Chinese regime will continue its structural reforms to increase consumption, so as to sustain economic growth in the country.
Speaking at the World Economic Forum in the northeastern city of Dalian, Wen said inflation continues to be the top priority.
[Wen Jiabao, Chinese Premier]:
"(We will) appropriately deal with relatively stable and fast economic growth, reform economic structure, and manage inflation expectation."
China's inflation dropped to 6.2 percent in August—easing from a three-year high of 6.5 percent. That is despite analysts expecting it to stay high and above the regime's goal of 4 percent.
The Chinese economy grew by 9.5 percent in the second quarter, a drop from 9.7 percent in the first quarter.
Wen reiterated the regime's policy on increasing domestic consumption to boost economy growth.
[Wen Jiabao, Chinese Premier]:
"China will stick to the strategy of expanding domestic demand, focus on adjusting, optimizing its structure, and enhance the pull of consumption demand."
The three-day economic forum, which ends on Friday, draws 1,700 representatives from 90 countries and regions.