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PM Wen, cabinet busy to cure economic woes

(2008-11-26 16:57:07)
标签:

经济不景气

金融危机

全球

市场

财经

分类: 国际经济与政治

PM Wen, cabinet busy to cure economic woes经济不景气

(chinadaily.com.cn)
Updated: 2008-11-26 10:01

Learned by Paulo

 

Top Chinese government officials are busy these days in an attempt to seek urgent cures to head off a further deteriorating阻止进一步的恶化 of the world's third largest economy, amid其间 an increasingly chilly economic winter of the world.

Premier Wen Jiabao and his cabinet, whose term expires任期满 in March 2013, held "in-depth talks深入讨论" with top economists and corporate entrepreneurs from a wide range of industries in the past week, to probe调查 the current economic predicament困境, in the hope that the central government could work out with the newest macro-control measures宏观调控措施 to " steer控制the economy out of trouble against a background of global turmoil全球市场动荡", the Xinhua news agency reported Monday.

China's annual economic growth rate slowed sharply to 9 per cent in the third quarter, from 10.4 percent in the first half of the year, because of a sudden plunge in export shipments and a slumping domestic property market.

Latest official statistics showed that the industrial production and exports in October worsened, pointing to a potential crisis of unemployment as employers across the board are cutting their work force. Many export oriented labor-intensive plants劳动密集型工厂 in the coastal regions在沿海地区 have shut down, thanks to a of overseas orders.

And, the World Bank has cut its estimate for China's GDP growth rate to 7.5 percent in 2009.

Economists said that if Beijing could not sustain a yearly growth 保持年增长of 8 percent, up to 12 million workers would have lost their jobs next year, posing a very perilous危险的 problem for social stability, because more than 90 per cent of farmer-turned-workers do not have protection of nest eggs积蓄.

Two weeks ago, Beijing unveiled 发出a massive 4 trillion yuan (US$586 billion) fiscal stimulus package经济刺激措施 to spur economic growth刺激经济增长 on rising worries that a further slowdown would destroy a pattern of 30-year rapid economic development, and drive up jobless rate.

According to Xinhua, Premier Wen Jiabao sat down at the Zhongnanhai leadership compound, central Beijing, on November 20 and again November 25, with specialists in a wide range of fields在广阔的领域 from fiscal policy, finance and the corporate world, to agriculture, real estate and external economy外部经济, as well as CEOs from heavyweight重量级的 sectors including petrochemical石化, telecommunications, auto, steel, nonferrous metal有色金属, machinery manufacturing机械生产, logistics and real estate.

The economists and corporate heads企业领导at the meetings gave their views on the current global economic and financial situation, China's fiscal and monetary policies, and special concerns relating rural areas, farmers' income, real estate, finance, and industrial restructuring.

Wen said that the complication of the ongoing持续的 global economy had brought along new difficulties to adjusting the government's macro policies.

He said it would be difficult to make the right decisions if one was to only "rely on the past experience", or "the wisdom of a few".

Wen said the government would listen to a wide range of opinions in a bid to become "more scientific and democratic" in decision-making, and improve the transparency of decision-making.

Beijing University economist Song Guoqing said at a program on CCTV on Monday that the central government was concerned with the quality of hundreds of new projects, to be funded by the 4-trillion yuan stimulus plan. He advocated that Beijing should invest more on urban affordable housing适用房 to jumpstart consumption of steel, cement, building materials and electric appliances.

And, Chinese car owner have convened联合 online meetings, and wrote to the central government asking for immediate reduction of gasoline prices, in keeping with world market. Beijing has kept the price very high, even as the world oil price has lowered by more than 120 percent, drawing lousy差劲的 complaints from the public.

Economists believe that the government's earlier decision to adopt "active" fiscal and "moderately active" monetary policies in response to changing economic conditions has played an important role in bolstering Chinese economy.

In the past week, Premier Wen and Vice premiers Li Keqiang, Hui Liangyu, Zhang Dejiang and Wang Qishan led inspection tours 带领考察团to enterprises in regions across the country, including the eastern Shanghai Municipality上海政府 and Zhejiang and Fujian provinces and Hubei Province.

 

Notes:

economic woes经济不景气

in an attempt to 努力

head off a further deteriorating阻止进一步的恶化

amid其间

term expires任期满

in-depth talks深入讨论

probe调查

predicament困境

macro-control measures宏观调控措施

steer控制

global turmoil全球市场动荡

labor-intensive plants劳动密集型工厂 in the coastal regions在沿海地区

sustain a yearly growth 保持年增长

posing a very perilous危险的 problem

nest eggs积蓄.

fiscal stimulus package经济刺激措施 to spur economic growth刺激经济增长

in a wide range of fields在广阔的领域

external economy外部经济

heavyweight重量级的

nonferrous metal有色金属

corporate heads企业领导

ongoing持续的

urban affordable housing适用房

convened联合

lousy差劲的

led inspection tours 带领考察团

Shanghai Municipality上海政府

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