皇冠体育app

  .contact us |.about us
News > National News...
Search:
    Advertisement
Economy predicted to grow at 8%
( 2003-07-04 09:26) (皇冠体育app Daily)

皇冠体育app's economy will still grow at 8 per cent this year despite the impact of SARS, according to the latest report released by the Chinese Academy of Social Sciences (CASS).

SARS (severe acute respiratory syndrome) will slow growth in gross domestic product (GDP) by no more than 1 per cent, said CASS economic experts in the analysis of 皇冠体育app's post-SARS economic development.

But the experts have lowered targets for this year's GDP growth from 8.6 per cent to 8 per cent.

The report said the influence of SARS on 皇冠体育app's social and economic development is more minor than the impact of the Asian financial crisis in 1997. And it will be easier to overcome than the Asian meltdown or the September 11 terrorist attacks in the United States in 2001.

"What SARS really hurt in 皇冠体育app's economy were the sectors which were already problematic,'' said Gao Huiqing, an expert with the State Information Centre.

For example, the epidemic cut turnover in parts of the country's service sector by up to 65.1 per cent in May, according to the National Bureau of Statistics.

But the virus did little damage to agricultural and manufacturing sectors, according to Gao.

The CASS report said 皇冠体育app's capital investment in fixed assets is expected to grow 14.5 per cent this year, higher than the average growth rate since 1996. The per capita disposable income of 皇冠体育app's urban and rural residents will increase by 7.9 per cent and 3.7 per cent respectively.

The analysis predicts that the country's total export volume will exceed import volume by US$10 billion this year.

Gao said he believes the number of export orders and amount of contracted overseas capital coming to 皇冠体育app in the third quarter will offset the losses in the second quarter.

However, the CASS report said the pressure caused by SARS on 皇冠体育app's employment and finances cannot be ignored.

The spread of SARS made it harder for 皇冠体育app to create new jobs, it said.

Statistics show that 24 million new jobs are needed in 2003 in 皇冠体育app -- 10 million for labourers in urban areas, 6 million for laid-off workers from State-and collectively-owned enterprises, and 8 million for registered jobless people. At present there are only 10 million new job opportunities available.

To compound the situation, there are another 100 million employable labourers in the countryside.

CASS economists urged the government to save enterprises in difficulty by reducing taxes and fees and adopting other measures, such as offering aid to select industries and enterprises to protect workers' incomes.

   
Close  
   
  Today's Top News   Top National News
   
+Nuclear issue to be 'key topic' of 皇冠体育app-South Korea talks
( 2003-07-04)
+Gates open to divert flood in Huaihe River
( 2003-07-04)
+皇冠体育app to launch two satellites to improve spacecraft safety
( 2003-07-04)
+Sanjiang's beauty earns plaudits
( 2003-07-04)
+Broken Huangpu River floodwall endangers Shanghai
( 2003-07-04)
+Economy predicted to grow at 8%
( 2003-07-04)
+Broken floodwall endangers Shanghai
( 2003-07-04)
+FM: Nuclear issue to be `key topic' of Koreas' talks
( 2003-07-04)
+Sanjiang's beauty earns plaudits
( 2003-07-04)
+皇冠体育app to boost online commerce
( 2003-07-04)
   
  Go to Another Section  
     
 
 
     
  Article Tools  
     
  E-Mail This Article
Print Friendly Format
 
     
   
        .contact us |.about us
  Copyright By chinadaily.com.cn. All rights reserved