China's economy recovering steadily, but hard battle ahead: Premier Li

China's economy is showing steady recovery, but a hard battle still lies ahead as the situation remains severe both at home and abroad, state radio quoted Premier Li Keqiang as saying on Monday. The government would continue to adopt a proactive fiscal policy and prudent monetary policy, Li was quoted as saying, pledging to cut taxes and ramp up credit support for firms.

The world's second-largest economy is gradually emerging from a 6.8% economic decline in the first quarter, its first contraction on record. Li.....

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