Special Report: Global Financial Crisis
BEIJING, Dec. 2 (Xinhua) -- Chinese Vice Premier Wang Qishan has called for more concrete measures to tap China's domestic consumption potential to sustain economic growth.
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Chinese Vice Premier Wang Qishan (4th, L) speaks at a meeting on foreign and domestic trade on Nov. 2, 2008. (Xinhua Photo)
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External demand for Chinese goods has fallen markedly
amid the global financial crisis, while domestic consumption power also fell,
Wang told recent meetings on foreign and domestic trade.
But the country's continued industrialization and
urbanization create huge demand, which helps to shield the economy from a
slowdown, he said.
China unveiled a 4 trillion yuan (581 billion U.S.
dollars) stimulus package on Nov. 9 to boost domestic demand.
Economic growth slowed to 9 percent in the third quarter from 10.4 percent in the first half and 11.9 percent last year. Economic data for October and November showed further downside risks.
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Chinese Vice Premier Wang Qishan (3rd, L) speaks at a meeting on foreign and domestic trade on Nov. 2, 2008. (Xinhua Photo)
Photo Gallery>>> |
The vice premier urged a reduction of burdens for
businesses, help for them in getting finance and promotion of mergers and
acquisitions.
He also called for more measures to optimize the
export structure and explore new markets to offset the negative impact on the
export sector of the global economic slowdown.
China's 4 trillion yuan stimulus to
boost economy, domestic demand
BEIJING, Nov. 9 (Xinhua) -- China said on Sunday it will
loosen credit conditions, cut taxes and embark on a massive infrastructure
spending program in a wide-ranging effort to offset adverse global economic
conditions by boosting domestic demand.
This is a shift long advocated by analysts of the Chinese
economy and by some within the government. It comes amid indications that
economic growth, exports and various industries are slowing.
Vice premier: China can grow economy
by boosting domestic demand
BEIJING, Nov. 9 (Xinhua) -- China said on Sunday it will loosen
credit conditions, cut taxes and embark on a massive infrastructure spending
program in a wide-ranging effort to offset adverse global economic conditions by
boosting domestic demand.
This is a shift long advocated by analysts of the Chinese
economy and by some within the government. It comes amid indications that
economic growth, exports and various industries are slowing.
Official: China to focus on domestic
consumption amid global uncertainties
BEIJING, Nov. 9 (Xinhua) -- China said on Sunday it will
loosen credit conditions, cut taxes and embark on a massive infrastructure
spending program in a wide-ranging effort to offset adverse global economic
conditions by boosting domestic demand.
This is a shift long advocated by analysts of the Chinese
economy and by some within the government. It comes amid indications that
economic growth, exports and various industries are slowing.
