Macro-economic policies to continue: Premier
www.chinaview.cn 2009-12-27 17:02:56   Print

Chinese Premier Wen Jiabao smiles during an exclusive interview with Xinhua News Agency at Ziguangge building inside Zhongnanhai, an office compound of the Chinese central authorities at the heart of Beijing, capital of China, Dec. 27, 2009. (Xinhua/Yao Dawei)
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    BEIJING, Dec. 27 (Xinhua) -- China will maintain its pro-active fiscal policy and moderately loose monetary policy to buoy the economy in 2010 as many uncertainties persisted at home and abroad, Chinese Premier Wen Jiabao said Sunday.

Backgrounder

  China's pro-active fiscal policy and moderately loose monetary policy

 China's economic development after 4-trln-yuan stimulus package

  China's measures on improving people's livelihood

 China's soaring house prices trigger concerns over property speculation

 Major fluctuations in China's 2009 consumer prices

  China faces rising trade disputes, yuan appreciation pressure

    Averting the trend of falling global demand remained difficult, Wen said in an exclusive interview with Xinhua.

    "Economies of some countries are starting to pick up, but fluctuations are still possible," Wen said.

    "China's economy has been on track for recovery. However, the economic performance and operations of enterprises still mainly rely on support from government's policies," Wen said.

    "A consolidated recovery in the country's economy does not point to a complete revival and a full revival does not mean China's economy is developing in a sustainable way," Wen said.

    "To withdraw macro-economic policies too early will likely ruin the efforts made before and reverse economic development," Wen said.

    The government would maintain the stability and continuity of macro-economic policies while comprehensively watching the domestic and foreign economic situations, Wen said.

    The State Council, or the Cabinet, announced on Nov. 5, 2008, that the government would shift the fiscal policy from "prudent to pro-active" and the monetary policy from "tight to moderately loose" to stimulate the economy by expanding domestic demand to offset a slump in exports.

    The Cabinet also unveiled a 4-trillion-yuan (585.6 billion U.S. dollars) stimulus package the same day.

    "We have stabilized economic growth and employment and maintained social stability over the past year," Wen said. "The government's economic stimulus package has proved effective."

    China's economy grew 8.9 percent in the third quarter, the fastest rate in a year, after expanding by 7.9 percent in the second quarter and 6.1 percent in the first three months, boosted by the massive government investment and record bank lending.

    The People's Bank of China, the central bank, scrapped lending limits of commercial banks in November last year.

    In the first 11 months of this year, new bank loans hit 9.21 trillion yuan, an increase of 5.06 trillion yuan over the same period last year, far exceeding the full year target of 5 trillion yuan the government set in March.

    The government pledged at the Central Economic Work Conference earlier this month that it would stick to the pro-active fiscal policy and moderately loose monetary policy in 2010 to sustain a recovery backed by the stimulus package.

    The government would adjust macro-economic policies in line with the changing economic situation and study issues arising during implementation of such policies, Wen said.

    China would gear more investment to social welfare, technical innovation and energy conservation and emission cuts next year, Wen said.

Premier Wen says science, technology key to China's economic development

    BEIJING, Dec. 27 (Xinhua) -- Premier Wen Jiabao said here Sunday that China would rely on science and technology to change its growth pattern.

    "It (science and technology) is key to China's economic development," Wen made the remarks when asked how China would respond to global scientific innovation expedited by the international financial crisis. Full story

Premier: China to steadily advance reform of household registration system

    BEIJING, Dec. 27 (Xinhua) -- Chinese Premier Wen Jiabao said Sunday China would advance the reform of its decades-long household registration system in a steady manner, in a bid to ensure migrant workers to have equal rights as city dwellers.

    Those policies are also key to speeding up urbanization and boosting domestic consumption, Wen said in an exclusive interview with Xinhua News Agency. Full story

China won't yield to yuan appreciation pressure: Premier

    BEIJING, Dec. 27 (Xinhua) -- China would not yield to pressure for the appreciation of its currency yuan, or renminbi, in any form, Chinese Premier Wen Jiabao said Sunday.

   "A stable Chinese currency is conducive to the international community," Wen told Xinhua in an exclusive interview. Full story

Improving people's livelihood always a priority: Premier

    BEIJING, Dec. 27 (Xinhua) -- The Chinese Premier Wen Jiabao stressed on Sunday that the final ends of the nation's economic growth is to improve people's well-being, which is a priority on the government's agenda amid the global financial crisis.

    Despite the tight fiscal condition, China beefed up the income and welfare enjoyed by the retirees and low-income residents, and unveiled the significant health-care reform in 2008, Wen told Xinhua in an exclusive interview. Full story

Chinese Premir stresses confidence, responsibility, cooperation in tackling downturn

BEIJING, Dec. 27 (Xinhua) -- Chinese Premier Wen Jiabao said Sunday the government had stressed confidence, responsibility and cooperation in dealing with the effects of the global economic crisis. Full story

Chinese people should be proud of economic performance: Premier

    BEIJING, Dec. 27 (Xinhua) -- Chinese people should be proud of the country's economic performance as the government's economic stimulus package proved effective, Premier Wen Jiabao told Xinhua Sunday in an exclusive interview. Full story

Premier Wen holds exclusive interview with Xinhua

    BEIJING, Dec. 27 (Xinhua) -- Chinese Premier Wen Jiabao holds an exclusive interview with the Xinhua News Agency on Sunday afternoon at Ziguangge building inside Zhongnanhai, an office compound of the central authorities at the heart of Beijing. Full story

Premier Wen promises annual dialogue with netizens ahead of Parliament session

    BEIJING, Dec. 27 (Xinhua) -- Chinese Premier Wen Jiabao said Sunday he would continue his dialogue with netizens before the annual Parliament session in March next year. Full story

 Special Report: Premier Wen Jiabao Gives Exclusive Interview with Xinhua News Agency

Special Report:  Global Financial Crisis

 


Editor: Tang Danlu
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