|A press conference is held by the first session of the 12th National Committee of the Chinese People's Political Consultative Conference (CPPCC) in Beijing, capital of China, March 7, 2013. Members of the 12th CPPCC National Committee Jia Zhibang, Chen Xiwen, Li Yi'ning, Li Yizhong, Du Ying and Lin Yifu (from 2nd L to 1st R) answered questions at the press conference. (Xinhua/Jin Liangkuai)
China to continue GM soybean imports: official
BEIJING, March 7 (Xinhua) -- China will continue to import genetically-modified (GM) soybeans in order to cater to domestic demand, a senior agricultural official said Thursday.
"It is inevitable for China to import some GM farm produce for quite a long period of time," said Chen Xiwen, deputy director of the office of the leading group on rural work under the Central Committee of the Communist Party of China. Full story
China can avoid middle income trap through reform: economists
BEIJING, March 7 (Xinhua) -- China can escape the middle income trap through industrial restructuring and income distribution reform, economists said Thursday.
Rising income disparity and social disorder are the major causes of the middle income trap, said Li Yining, a renowned Chinese economist, at the ongoing annual session of the Chinese People's Political Consultative Conference (CPPCC) National Committee, China's top political advisory body. Full story
Financial risk biggest challenge for China: economist
BEIJING, March 7 (Xinhua) -- Financial risk will remain the biggest challenge for the Chinese economy as over-reliance on investment to power the economy amid urbanization drive would increase debt burden for local governments, senior economist Li Yining said Thursday.
China's economic growth has largely been driven by investment over the past years and a large amount of money has been spent to boost urbanization. Full story
China vigilant against quantitative easing in developed economies
BEIJING, March 7 (Xinhua) -- China's political advisors expressed concerns about the impact of quantitative easing policies in developed countries, urging the nation to speed up industrial restructuring to tackle related challenges.
"We don't agree with the excessive monetary easing used in some countries," said economist Li Yining at a press conference held on the sidelines of the annual ongoing session of China's top political advisory body. Full story