Mr Zhang Dejiang vice premier of China on a weekend inspection tour to central province of Hubei said that the spreading global financial crisis and economic slowdown are having bigger negative impact on Chinese economy.
Mr Zhang who aims to learn about performance of the industrial sector during the trip, urged the local officials to give strong support to key enterprises and sectors and also small and medium sized enterprises and labor intensive businesses.
China's annual economic growth rate slowed sharply to 9% in the third quarter, from 10.4% in the first half, because of slower growth in exports and property investment. Economic data for October, including industrial output and exports, had showed the economic situations were deteriorating further.
The Chinese government unveiled early the month a CNY 4 trillion (USD 586 billion) stimulus package to spur economic growth on rising worries a further slowdown would drive up unemployment rate.
The vice premier also called to adjust industry, products and corporate governance structures to improve the market competitive edge of local businesses.