Policymakers discussed the issues of jobless at the three-day Central Economic Work Conference which ended yesterday.

The jobless rate could rise next year from 4% this year because of massive job cuts. If the rate rises above 5%, social stability could be threatened, a senior lawmaker warned.

So the government at the conference discussed measures to create new jobs and maintain the existing unemployment rate during the global financial crisis as rate above 5% will lead to a series of negative consequences. What is more, the number of poor urban residents would increase and living standards in cities would decline.

As a result, in order to keep the jobless rate low, local government should promptly hire Read more…

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China, conference, government, jobless, measure, rate

According to experts, the main focus for Chinese government to stabilize the real estate market lies in the stimulation of the private housing demand and the strengthening of the low-cost housing building.

Qin Xiaomei ,research chief at CB Richard Ellis’ Beijing branch, said ,”The government are definitely concerned about how to keep the real estate market stable ,particularly at a time when the country’s economy has an increasing risk Read more…

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China, demand, economy, government, market, real estate

Industry exports in China are being freezing as the global recession has spread so fast. Experts warned that the situation could be worse in the future amid global financial crisis.

According to the Ministry of Commerce in a report on trade outlook, the situation will become more complicated and bring more uncertainties in 2009.

Experts forecast that the government Read more…

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China, crisis, depression, economy, export, industry, recession

The issue that how to ensure at least 8% economic growth next year while at the same time accelerating the nation’s economic restructuring is being discussed at the annual Central Economic Work Conference.

The conference which began in Beijing on Monday will come to an end today. The three-day event is expected to how more details on how the government will use fiscal and monetary measures to support employment and domestic demand, while reducing excessive dependence on exports.

According to Song Hong, a researcher with the Chinese Academy of Social Science (CASS), the meeting will announce the detailed measures for the goal of economic growth in Read more…

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China, economy, growth, measure, package, stimulus

China and the United States reached an agreement last Friday that make their joint efforts to tackle emergencies on food security and product safety, which was included in a document outlining the results of the two-day fifth round of the Sino-US Strategy Economic Dialogue (SED).

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China, economy, food, security, SED, U.S.

A $20b finance package that the Export-Import Bank of China agreed to contribute $8b and the US Export-Import Bank $12b was approved by China and United States last Friday.

As Henry Paulson, US Treasury Secretary said at the end of the two-day Strategic Economic Dialogue (SED), “The new sources of financing are expected to send Read more…

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$20b, approval, China, economy, finance package, SED, U.S.

When the semiannual mechanism ended its fifth two-day session last Friday, top officials from both sides of the Strategic Economic Dialogue (SED) expressed hope that the incoming Obama administration would continue the highest level economic dialogue between China and the United States.

After the session ended at noon on Friday, both President Hu Jintao and Premier Wen Jiabao congratulated Henry Read more…

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China, dialogue, economy, high-level, SED, U.S.

After the government announced a fresh financial stimulus to boost its economy, Chinese stocks rose to a 3-week high level.

The benchmark Shanghai Composite Index edged up 1.84 percent, which was 36.09 points, to close at 2001.5 on Nov.4. And the turnover on the bourse reached the highest point since May 9, which Read more…

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US is expected to stabilize its financial market to ensure the safety of its assets there and Beijing would like to work with Washington to revive the health of the international financial system, according to Vice-Premier Wang Qishan at the opening ceremony of the fifth Sino-US Strategic Economic Dialogue, a two-day event that began in Beijing on Dec 5th.

Wang also said that day the key tasks of SED this year was to restore global confidence and prevent the current financial crisis from spreading.

The SED mechanism Read more…

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China, economy, event, global crisis, market, SED, U.S.

On Nov 4, the fifth round of Strategic Economic Dialogue (SED) between China and the United States was held in Beijing. It has evoked a particular interest of whether the dialogue mechanism will be carried forward into the new US administration as it was the last round of talks between the two countries during Bush administration.

Large-scale of debates has arisen in the US in terms of whether such dialogue mechanism should be continued into the next Read more…

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administration, China, economy, mechanism, SED, U.S.