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Monday, July 16, 2012

Premier Wen Urges Efforts to Boost Dynamism of Economic Growth

Wen Dao Shi 搵到食
Wen Dao Shi 搵到食 (Photo credit: Xin Li 88)
Premier Wen has called for greater efforts to strengthen vitality and dynamism of economic growth.  Speaking during an inspection tour of southwest China's Sichuan province from Friday to Sunday, Wen said the economy is running at a slower but more stable pace. "The economic growth rate is still within the government target range set early this year, and stabilization policies are working," Wen said. In March this year, the nation pared its gross domestic product (GDP) growth target for 2012 to 7.5 percent from the previous 8 percent, in the face of a persistent slump in the United States and spreading debt woes in the European Union. Dragged down by lackluster external demand and government efforts to cool the property sector, the country's GDP growth slowed to a three-year low of 7.6 percent in the second quarter. Wen said China's economic fundamentals remain sound and the country still enjoys huge growth potential, citing the bumper summer harvest, cooling inflation and rising incomes. However, the country's economic rebound is not yet stable and economic hardship may continue for a period of time, the premier warned at a conference on Saturday in Chengdu city attended by provincial officials from Henan, Hunan, Guangxi, Sichuan and Shaanxi. ... Continue to read.
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