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China can grow economy by boosting domestic demand

(Xinhua)
Updated: 2008-11-06 23:09

BEIJING, November 6 (Xinhua) -- China on Thursday said it was fully able to promote economic growth by boosting domestic demand.

Related readings:  Govt looks to stimulate demand  Govt vows to raise demand, maintain financial stability  PBOC to work with other central banks, boost local demand

Vice Premier Wang Qishan made the remarks when meeting with Britain's Prince Andrew, the Duke of York, who is also the country's special representative for international trade and investment.

China was enjoying rapid industrialization and urbanization and great market potential, Wang noted.

"The most important task for us now is to manage our own affairs well," Wang said, noting that the government would continue to take measures to ensure economic and financial stability.

Each nation was seeking to cope with the financial crisis. Wang said with the upcoming G20 summit, the international community should increase cooperation and jointly respond to the current financial turmoil.

China will continue taking responsible steps to actively join international efforts to cope with the crisis, he noted.

Prince Andrew hoped to see stronger cooperation between Britain and China in economics, trade, finance, education and culture, in a bid to promote stable and healthy development of bilateral relations.

The prince was here on a visit as a guest of the Chinese People's Institute of Foreign Affairs.