China's economy faces severe times this year - Premier Li

BEIJING (Jan 23): China's economy faces a severe time this year and the government will be watching trends closely to ensure stable growth, Premier Li Keqiang was quoted by state radio as saying on Thursday.

"The situation that we face in 2014 remains severe," Li was quoted as saying. He did not elaborate.

Li was quoted separately by the government's website as saying that officials will strive to keep consumer prices stable.

Data this week showed China's economy grew 7.7 percent in 2013, narrowly missing market forecasts for growth to slide to a 14-year trough of 7.6 percent.

Written by Reuters