NANJING, Aug. 9 (Xinhua) -- Chinese Premier
Wen Jiabao reaffirmed during the weekend that China would unwaveringly adhere to
its moderately easy monetary policy in face of economic difficulties and
challenges.
Chinese Premier Wen Jiabao (3rd R)
inspects the environment protection of the Taihu Lake in Wuxi, east
China's Jiangsu Province, Aug. 7, 2009. Wen Jiabao made an inspection tour
in Jiangsu Province from Aug. 7 to 9.(Xinhua Photo) Photo Gallery>>>
Wen
said China would maintain both its proactive fiscal and moderate monetary
policies, and work on economic restructuring to strengthen recovery from the
global downturn.
During a three-day inspection tour that ended Sunday
in the eastern Jiangsu Province, one of China's economic powerhouses, Wen said
China should focus on maintaining stable and rapid economic development and
accelerating economic restructuring.
China's economy still faced hardships and challenges
because of the gloomy international economic outlook, he said. With weakened
external demand, Chinese enterprises faced significant overcapacity, while
domestic demand was still restricted by various factors.
The impact of governmental
stimulation of the economy would gradually lessen and long-term policies needed
time to pay off, Wen said. Therefore, China's macroeconomic policy would not
change.
Chinese Premier Wen Jiabao (1st L) talks
to staff members at a research center of the Chinese Academy of Sciences
in Wuxi, east China's Jiangsu Province, Aug. 7, 2009. Wen Jiabao made an
inspection tour in Jiangsu Province from Aug. 7 to 9.(Xinhua
Photo) Photo
Gallery>>>
The premier's remarks echoed a similar announcement
made by a senior economic planning official Friday that overseas market
conditions were still severe and the country's economic policy direction would
remain unchanged.
Although the country's economy was showing signs of
recovery, it still faced many difficulties in maintaining stability, said Zhu
Zhixin, vice minister in charge of the National Development and Reform
Commission.
On his third visit to Jiangsu
since the global financial crisis hit, Wen also praised "better-than-expected" results in
eliminating pollution from the country's third largest fresh water lake Taihu
over the past two years, since a blue algae outbreak in
2007.
Chinese
Premier Wen Jiabao (2nd R) inspects COSCO KHI Ship Engineering Corporation in
Nantong, east China's Jiangsu Province, Aug. 8, 2009.(Xinhua Photo) Photo Gallery>>>
Wen was told that more than 3,000 small chemical
plants surrounding the lake had been closed and about 1,000 new facilities had
been installed to treat sewage from nearby villages into the lake.
BEIJING, Aug. 9 -- The Chinese government will not change
its stimulus policies because it could derail its hard-won economic recovery,
though record bank lending in the first half of the year has raised fears over
credit risks and asset bubbles.
"The central bank is still committed to a 'moderately
loose monetary policy'," said Su Ning, deputy governor of the People's Bank of
China (PBOC), at a press conference in Beijing on Friday. Full story
BEIJING, Aug. 7 (Xinhua) -- There will be no change
in China's macro-economic policy orientation amid the world economic downturn,
said an official with the country's economic planner on Friday.
Zhu Zhixin, vice minister of the National Development
and Reform Commission (NDRC), said at a State Council Information Office
conference that the overseas market is still severe and the country's economic
policy direction will remain unchanged. Full story
BEIJING, Aug. 9 (Xinhua) -- Almost half of China's private
equity (PE) managers voiced optimism about China's mainland stock market despite
last week's share slump, latest survey showed.
In a survey conducted by China's state TV broadcaster,
China Central Television (CCTV) and simu.com, an information provider of the
field, of the 35 top PE managers that had been interviewed, 45.71 percent
predicted a bullish market in August. Full story
