China 'ready to add to stimulus'

China has "adequate ammunition" to fend off the worst effects of the global economic slowdown and is ready to add to already announced stimulus measures if needed, the country's premier has said. Speaking to reporters at the end of the annual National People's Congress (NPC) in Beijing on Friday, Wen Jiabao outlined a four point plan for recovery, saying the government's "priority task remains to bolster confidence". "First and foremost, we need very strong confidence," he said. "Only when we have confidence can we have courage and strength, and only when we have courage and strength can we overcome difficulties." Wen was speaking at a rare press conference with international and local reporters in Beijing's Great Hall of the People. Mixing optimism with caution, he reiterated his warning made at the opening of the congress last week that 2009 would be a challenging year for China, but said the government had "prepared contingency plans to handle greater difficulties". "We have prepared enough 'ammunition' and we can launch new economic stimulus policies at any time."

"I expect that next year both China and the world will be better off" Wen Jiabao, Chinese premier