Premier Li Keqiang said on Saturday that the key in well managing the current economic position is to keep the macro-economic policy stable and innovate regulatory approaches.

When talking with leaders of Beijig, Tianjin, Heibei and Shandong provinces, Li said China's economy is still growing at a relatively fast pace, also within a reasonable range, and the employment situation has been steady this year.

However, complicated factors are ahead, which need to be monitored closely, he noted.

"Scientific approaches are needed to ensure this year's social and economic goals are met," he said.

Li reiterated the importance of reform to vitalize the market and economy. The government should cut expenditure on its own administration and increase spending on improving people's lives.

Credit should be used to support the real economy while industrial overcapacity should be addressed, he added. Endi

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