Reporter:
Yu Bin with the State Council says despite the downward pressure, the economy is running reasonably well.
"Based on the targets set during this year's NPC and CPPCC sessions, GDP growth is expected to reach 7% and the inflation control target is at around 3 percent. Based on the data from January and February, I think the economy is running at a reasonable level. "
According to the latest figure, this month's CPI, the main gauge of inflation, grew 1.4 percent year on year.
Since the middle of last year, due to slowed economic growth, demand and prices for staple goods have fallen, leading to increased downward pressure on the economy.
Despite the trend, China's stocks have made dramatic gains this week, with the main market climbing above 4,000 points for the first time since early 2008.
