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
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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benchmark, China, economy, government, index, stimulus, stock
A raft of measures to encourage lending by financial institutions to infrastructure projects, small businesses and potential home and car buyers was unveiled by the government the day before yesterday.
Also, the three policy banks will get 100 billion yuan ($14.6 billion) from the government to prop up economic growth during the worsening global financial crisis.
When chairing an executive meeting of the State Council, or the Cabinet, Premier Wen Jiabao also said they will take steps to help economy over the crisis.
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China, economy, finance, government, package, stimulus
According to the nation’s think tank the day before yesterday, China’s GDP growth could get 9% next year.
Because of the moves of stimulating investment and consumption, it is believed that the GDP growth could get 9% next year—with 70% possibility.
Wang Tongsan, a senior economist also holds the same opinion, he said Read more…
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China, domestic demand, economy, GDP, growth, package, spur, stimulus
According to bankers and economists, next year, profitability of Chinese banks will be under pressure after lending rates are reduced.
The measures were announced by the central bank last week who had cut the reserve money requirements for banks and removed curbs on lending. These moves will squeeze interest spread of banks as well as Read more…
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bank, China, demand, economy, plan, stimulus
According to the country’s top planning official, the economy is declining fast rather than getting better. But the government will take effective measures to increase domestic demand and create more job opportunities, said Zhang Ping, minister of the National Development and Reform Commission (NDRC).
He said at a press conference Read more…
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China, decline, economy, increase, pakcage, stimulus
After the sharp fall to surge more than 6 percent yesterday, the major mainland index began to rally, mainly boosted by heavy weight stocks in the energy and financial sectors.
The benchmark Shanghai Composite Index and Shenzhen Component Index both soared several percent especially Shanghai Composite Index had 884 stocks closing higher.
The amount of the combined Read more…
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China, energy, finance, mainlan, package, stimulus, stock
According to the municipal government official, in addition to the 500-billion-yuan plan introduced last Friday, the government will launch a 160-billion-yuan ($23.4 billion) economic stimulus package. The plan was approved by Shanghai Han Zheng on Monday. It will be spent in the coming two years on such areas as transportation, scientific innovation, industrial upgrading, environmental protection and projects regarding the 2010 Shanghai World Expo.
The urban construction Read more…
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China, government, package, plan, Shanghai, stimulus
According to a senior planning official last Friday, it could cost the government larger than the 4 trillion yuan ($586 billion) stimulus package already announced to boost China’s economy.
During a press conference organized by the State Council Information Office, vice-director of the National Development and Reform Commission (NDRC), Mu Hong said that the 4 trillion yuan would only be part of the country’s total investment and the central government would provide 1.18 trillion yuan for the package.
The total spending of investment from which including businesses and local government will reach 4 trillion yuan by the end of 2010. But Mu conjectured that investment from across society could be even higher. Read more…
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4 trillion yuan, China, economy, funding, package, stimulus
China has planed to tackle the global financial crisis through 4-trillion-yuan economic stimulus package. Here are other countries’ methods to deal with the crisis:
United States: The global crisis was brought about by the housing market collapse of this country which has earmarked $700 billion for bank funding. It is expected that Barack Obama would spend hundreds of billions of dollars more in a fiscal stimulus package once he assumes office next year.
Read more…
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China, crisis, housing market, package, stimulus, world
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.
