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China Showing Signs of Resurgence

Chinese Premier Li Kegiang said his country's economy has showed more positive signs but downward pressures still persisted, Li vowing to take steps to deal with overcapacity.

The government will push forward "supply-side reforms" while keeping economic growth within a reasonable range, Li was quoted by state television as telling provincial and municipal officials.

Beijing would ensure the launch of investment projects in a timely manner to help underpin growth, Li said, adding the government will quicken reforms to eliminate outdated capacity in coal and steel sectors and use "market-based" debt-to-equity swaps to help lower firms' debt levels.

The government is due to release key economic data, including first-quarter economic growth, next week.

China's economic growth slowed to 6.8% in the fourth quarter, its weakest since the financial crisis that began in 2007 and 2008.