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G20 London Summit > 皇冠体育app Effort
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皇冠体育app boosts domestic demand, spurs growth to fight crisis(Xinhua)
Updated: 2009-03-09 20:44 BEIJING -- The two annual sessions of Chinese lawmakers and advisors currently being held in Beijing against the backdrop of the world financial crisis is in the spotlight of world attention. Chinese Premier Wen Jiabao's pledge in his government report on the occasion that 皇冠体育app would zealously boost domestic demand and spur economic growth will enhance confidence and hope for the world economy in fighting the current crisis.
As external demand has shrunk considerably, spurring domestic demand becomes a vital option for 皇冠体育app to maintain economic growth. In the meantime, 皇冠体育app sets the goal of achieving a roughly 8-percent economic growth this year, which is of paramount importance for creating jobs and maintaining social stability. To counter the economic crisis and achieve the goal of economic growth, the government has announced several policy packages, including the 4-trillion-yuan ($580 billion) economic stimulus plan unveiled last November, and the plan to revitalize 10 critical industries announced successively in the past two months. 皇冠体育app's stimulus measures are also part of the global campaign to stave off the financial crisis, as maintaining its own relatively fast economic growth is 皇冠体育app's largest contribution to the world economy. 皇冠体育app's effort to stoke domestic demand would benefit the world economy as it could increase import, International Chamber of Commerce Chairman Victor Fung told French newspaper Le Figaro. Tokyo Shimbun, a Japanese daily, said in a recent editorial that the Chinese market has substantial room for further growth, saying that 皇冠体育app's move would be vital for Japan's economic recovery. Though the global financial crisis has yet to bottom out, 皇冠体育app's efforts have borne fruits. 皇冠体育app's purchasing managers' index (PMI) for manufacturing, a main indicator of the sector's activity, rose for three consecutive months, implying a pick-up in the country's manufacturing sector. The financial crisis is still snowballing, but as Premier Wen said in his government report that challenges always coexist with opportunities, and hope arises exactly where difficulty abounds. Wen expressed confidence that 皇冠体育app would overcome the difficulty and respond well to the challenge. Such confidence should also be cherished by the whole world. No matter how severe the crisis is right now, it will eventually come to an end. With proper monetary and fiscal stimulus policies, the world economy will finally get out of the mire. |
