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Prime Minister Wen Jiabao of China said Friday that the nation would expand social spending, bolster lending, curb inflation and meet its traditional 8 percent economic growth target in 2010, but he cautioned that China still confronted “a very complex situation” in the wake of the global financial crisis. Delivering his annual report to China’s unelected legislature, the National People’s Congress, Mr. Wen said that “destabilizing factors and uncertainties” in the world economy posed a challenge to China’s continued growth. But he effectively said that China’s plan to slowly ease away from last year’s enormous economic stimulus program, which spared China the worst of the recession, would continue unchanged. “There’s no surprise here,” Tao Wang, an economist for USB Securities in Beijing, said in an interview after Mr. Wen’s address. “This has been the working assumption for a long time.” Mr. Wen’s 35-page speech, the rough equivalent of an American State of the Union address, included a listing of statistics aimed at underscoring the government’s successful policies, swathed in boilerplate assertions of arduous struggle and glorious achievement. – New York Times
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