Chinese Premier Wen Jiabao says the Chinese government will speed up the process to fine-tune its economic policies, as the Chinese economy remains under serious downturn pressure.

Wen's remarks are a hint that the People’s Bank of China will additionally lower its benchmark interest rate, following two previous cuts over the past month.

The Chinese central bank, the European Central Bank and Britain’s Bank of England cut their interest rates on the same day, showing serious concerns about a downward trend in the global economy.