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Premier Wen: Financial Crisis Not Bottoms out, Impact Spreading

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He also cited figures on stronger retail sales and the rebound of power generation and use.

Consumption rose 18 percent year on year in January, while power generation in the Feb. 11-20 period increased 15 percent year-on-year, or up 13.2 percent from the first ten days of this month, he said.

"Some key indicators showed the economic situation has somewhat turned better," he said. "But those were just temporary indices and couldn't be fully compared with the past figures."

Wen said one indicator he valued most was power generation. "Staring from mid February, power generation and consumption have both resumed growth," he said.

"We must fully realize we are facing a long-term and arduous task," he said.

"We must strengthen confidence in the face of the crisis and be ready to take firmer and stronger actions when necessary," he said.

(Xinhua News Agency February 28, 2009)

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