China Premier Li says prepared for economic volatility this year

China has the policies in place to deal with any economic volatility this year, Premier Li Keqiang was quoted by state media as saying, a sign of the latest official stance on bolstering the economy.

In a speech to a forum in China's northeast made on Wednesday and reported by the Xinhua news agency early on Friday, Li also said the government would roll out targeted measures step by step to aid the economy.

He reiterated that the Chinese government has the capability and confidence to maintain economic growth in a reasonable range.

He added that financing costs of enterprises should be lowered by using a mix of monetary policy tools.