Home Page | Photos | Video | Forum | Most Popular | Special Reports | Biz China Weekly
Make Us Your Home Page

Xinhua Insight: Expectations running high for "Year of the Snake"

English.news.cn   2012-12-31 17:23:14            

BEIJING, Dec. 31 (Xinhua) -- Although China's Lunar New Year is still several weeks away, many Chinese are anxious to see what the "Year of the Snake" will bring following the recent selection of a new set of leaders.

Chinese people have been very positive to the working style and policies of the new leadership of the Communist Party of China since they took the helm one and half a month ago.

Reducing bureaucracy and eliminating corruption have been prioritized by the CPC's new leaders. During a Dec. 4 meeting of the Political Bureau of the CPC Central Committee, the leaders laid down rules asking government officials to maintain a frugal lifestyle.

The Central Military Commission has also issued a notice forbidding high-ranking military officials from drinking alcohol or dining on expensive dishes during official banquents.

Scholor Zheng Bijian described 2012 as a year of "strategy designing" and expected a series of new measures will be adopted in 2013, a year he said will be a starting point for implementing the "blueprints."

Some netizens have expressed the hope that anti-corruption efforts will be strengthened in the coming new year.

"Public expectations for real change are mixed, but are generally running high for 2013," said Dong Hongyang, a sociologist at the Heilongjiang Provincial Academy of Social Sciences.

Over the past several months, recovery in some of the country's economic sectors means a good news to the world, promoting some of the overseas agencies hiking forecast for China's economy in 2013.

Major global investment banks predicted Wednesday that China's economy will grow more than 8 percent in 2013, picking up from the slower growth registered in 2012.

Bank of America, Merrill Lynch and Nomura said economic policies that will be implemented by China's new leaders will lead a cyclical economic recovery in China.

Zhang Chuanxin, a farmer from northeast China's Heilongjiang Province, said he is hoping for a smooth harvest and more favorable agricultural policies next year.

"There were too many natural disasters in the 'Year of the Dragon.' My crops were hit hard by Typhoon Bolaven and those of my relatives were hit with pest outbreaks and hail," Zhang said.

Zhang said his purchase of state-subsidized agricultural insurance, as well as an increase in the minimum purchase price for grain, helped buffer some of his losses

Agricultural authorities promised earlier this month that they would lift the minimum price of wheat to 112 yuan (18 U.S. dollars) per 50 kg next year, up 10 yuan from 2012.

Increased government support helped China's grain output rise 3.2 percent year on year to hit 589.57 million tonnes in 2012, marking the ninth consecutive year of growth, official statistics showed.

A good harvest led to softer-than-expected food inflation in 2012, according to research results released by Barclays in December. The consumer price index, a key gauge of inflation, eased significantly in 2012.

Economists have generally agreed that China's economy has bottomed out, expecting balanced and inclusive single-digit growth in the near future.

"The government will tolerate lower growth to facilitate rebalancing and the transformation of its growth model," Barclays stated following China's annual central economic work conference held in December.

China's rosy economic picture has encouraged Peter Solomon, a horn player in the Shanghai Symphony Orchestra, to settle in the city.

"I hope my wife will find a job in Shanghai in 2013. The city is getting more international and foreigners looking for jobs find it favorable," he said.

Editor: Yang Lina
Related News
Home >> In-depth            
Most Popular English Forum  
Top News  >>
Photos  >>
Video  >>
Top News Latest News  
  Special Reports  >>