Economy to see 'good ending' in 4th quarter

A farmer works in a rice field in Xinjian, Jiangxi province, Oct 10, 2013. [Photo/Xinhua]

Premier says policies must help balance growth and reforms

Premier Li Keqiang assured on Monday that the nation's economy will have "a good ending" in 2013, which will enable it to have "a promising beginning" for 2014.

Li made the comment while briefing representatives to the 16th national congress of the All-China Federation of Trade Unions.

He also vowed to carry out reforms and ensure employment as economic growth stabilizes.

Macroeconomic policies should continue to balance growth and structural reforms, he said.

"We are confident of achieving the main targets of economic and social development this year," Li said.

Li highlighted the continuation of a "proactive employment policy" to create more opportunities in the labor market, measures to improve the income of rural migrant workers, and the promotion of social security for employers.

He warned that risks and challenges still exist, which may weaken the economic recovery, although the economic indicators in the third quarter showed the best picture of the year.

The National Bureau of Statistics reported a GDP growth rate of 7.8 percent from July to September, rebounding from 7.5 percent in the second quarter. It was 7.7 percent in the first three months.

The consumer price index, the main gauge of inflation, stood at 2.5 percent for the first three quarters.

So far, GDP and inflation levels are within the government's "reasonable range", with positive changes in economic structure and increasing incomes, the premier said.

Based on economic momentum in the third quarter, "China's labor market remains robust", said Stephen Green, chief economist in China at Standard Chartered Bank.