article_snippet: Beijing (CNN)China's premier on Sunday offered a sobering assessment of the world's second largest economy amid fears of a sustained slowdown but brushed aside concern that it could face a full-blown economic crisis.
article_snippet: I don't deny that the Chinese economy is facing downward pressure and multiple risks," said Li Keqiang at a nationally televised press conference.
article_snippet: The key is to find the balance between stable growth and structural adjustments under the new normal (of slower growth).
article_snippet: "We haven't adopted the policy of strong short-term stimulus in recent years -- in other words...
article_snippet: Earlier this month, the People's Bank of China -- the central bank-- cut interest rates to guard against deflation and China set China lowest growth target in 25 years.
article_snippet: Li, the No. 2 leader in China behind President Xi Jinping, also promised a further streamlined government to strengthen the role of free market in the Chinese economy.
highlights_snippet: Chinese premier says economy faces multiple risks .
  