Special Report: Global Financial Crisis
Backgrounder: A timeline of China's recent economic-stimulus
measures
BEIJING, Nov. 9 (Xinhua) -- China has decided to
adopt active fiscal policy and moderately easy monetary policies to boost fast
but steady economic growth by expanding domestic demand, according to an
executive meeting of the State Council on Sunday.
It is estimated that investment into infrastructure,
social welfare and other key sectors will amount to four trillion yuan by the
end of 2010.
China adopts flexible monetary policy to boost economy, cope with
crisis
BEIJING, Oct. 31
(Xinhua) -- China's decision to cut interest rates on Thursday is part of its
flexible monetary policy to cope with the world financial crisis and boost
domestic economy, a central bank spokesman said on Friday.
Li Chao, spokesman of the People's Bank of China (PBOC)
explained the government's cut in interest rates for the second time in one
month. Full story
China should pursue a stable monetary
policy, says former banker
BEIJING, Nov. 3 (Xinhua) -- China should pursue a
stable monetary policy in the face of risks from both inflation and falling
prices, as it is not urgent to cut interest rates, the China Securities Journal
quoted a former banker as saying on Monday.
Wu Xiaoling, former deputy governor of the People's Bank
of China, the country's central bank, said over the weekend that fiscal policies
and other policies were of more importance than monetary policies to maintain
the stability of the country's economy amid the current complicated situation
both at home and abroad. Full story
NBS chief: China's economy in good
shape despite global financial turmoil
BEIJING, Nov. 2 (Xinhua) -- China's economy is
in good shape despite the changing economic environment, and it will maintain
stable and relatively fast growth, National Bureau of Statistics (NBS) chief Ma
Jiantang told Xinhua on Sunday.
"The fundamentals of China's economy remain unchanged
despite the changing world economic environment," the new NBS director said. "We
should be confident about the country's economic outlook." Full story
Rating agency report: China's GDP to
slow to 9.4% in 2008
BEIJING, Nov. 2 (Xinhua) -- China's gross domestic product (GDP) growth is
expected to slow to 9.4 percent in 2008 from last year's 11.4 percent as the
shrinking exports will cool the world's fourth largest economy, according to a
Chinese credit rating agency report on Sunday.
The fundamentals of the economy are sound, but falling
export orders would take a toll on the national economy in the short term, and
domestic consumption needed time to play a bigger role, said the report released
by the China Chengxin International Credit Rating Co. (CCXI), a joint venture of
China's first rating agency China Chengxin Credit Management Co. Ltd. and
U.S.-based Moody's Corporation. Full story
Global financial crisis spills over
China's labor market
BEIJING, Nov. 1 (Xinhua) -- In the space of a year, Yang
Chanjuan's career plan has changed direction. A soon-to-graduate college student
in economics, Yang is feeling her fortunes being buffeted by the financial
crisis.
Yang was recently told by her schoolmates already working
in the financial sector that their companies would cut staff, or there would no
bonus this year. Amid the turmoil and full of uncertainty, a job in banking or
securities company was no longer desirable to her. As a result, she decided to
apply for a government job. Full story
