China to maintain macroeconomic policy in 2018

Premier Li Keqiang said Tuesday that China will maintain the continuity and stability of its macroeconomic policy and continue reform and opening up in 2018.

Li made the remarks at a symposium attended by economists, entrepreneurs and senior government officials.

The government will also further cut taxes and fees for companies to reduce "institutional transaction costs," Li said.

For this year, the premier said China's economy performed "better than expected," a "strong response" to the "hard landing" scenario which had been predicted by some.

He also cautioned that unstable and uncertain factors remained outside China, deep-rooted structural problems were still prominent in the Chinese economy, and all sorts of risks cannot be ignored.

China's economy continued its firm growth with gross domestic product expanding 6.9 percent year on year in the first three quarters, above the government target of 6.5 percent for the whole year, official data showed in October.