China has more back-up stimulus plans if the economy worsens, Chinese premier Wen Jiabao told a press conference on March 13.

"We are prepared to fight a long-drawn and difficult financial crisis, and we have reserve strategies.... we have stocked up enough 'bullets', and we can shoot new stimulus ideas whenever they are needed," Wen told the media after the closing of the nine-day National People's Congress annual plenary meeting in Beijing.

Wen's statement was aimed at quelling skepticism over the Chinese government's GDP growth target of 8% this year. Some media and market observers had questioned how the target could be achieved without additional capital injections being announced since introducing the four-trillion-yuan stimulus package late last year.

In the months following the stimulus package announcement last November, major Chinese macro economic indicators - such as the consumer price index, producer price index, exports and imports data, and real estate prices - showed signs of a worsening economy and increasing deflationary pressure.

However, when Wen presented his working report last week, some media pointed out that there was no mention of enlarging of the stimulus package to overcome aggravating conditions.

Reacting to such skepticism, Wen told the media on Friday that the government's scope of spending in spurring growth went beyond the stimulus package, and additional injections were indeed available.

For instance, he said there was 600 billion yuan of forthcoming tax cuts, additional pensions for retired workers, subsidies for teachers and farmers, and 850 billion yuan of investment in health care reform.

Wen opened the press conference by saying, "confidence is more important than money or gold" during this crisis.