Subscribe free to our newsletters via your
. GPS News .




POLITICAL ECONOMY
China's leaders call for prioritising stable growth
by Staff Writers
Beijing (AFP) July 31, 2012


China's top leaders warned of continued downward pressure on the world's second-largest economy and vowed to make economic growth a top priority, state press reported Tuesday.

"Looking at the domestic economy, the most obvious problem is downward pressure remains substantial," Xinhua news agency quoted Premier Wen Jiabao as saying at a meeting of top politicians.

"We must resolutely maintain and safeguard the stable and relatively fast paced growth of the economy, adjust the economic structure, manage inflation and expectations, and continue to make stable growth a priority."

Wen's comments came at a meeting last week gathering prominent non-Communist Party members, Xinhua said. It was unclear why the state-controlled agency was reporting on the meeting days later.

At the meeting, President Hu Jintao further urged an "active fiscal policy and stable monetary policy" aimed at expanding domestic demand, creating jobs and strengthening the rural economy, the report said.

"We must remain clear headed, fully recognise and pay a high level of importance to the prominent contradictions and problems in our economic work (and) resolutely place higher priority on stable growth," Hu said.

China's leadership is coping with a loss of economic momentum ahead of a sensitive once-a-decade leadership change in the Communist Party, which derives much of its legitimacy from overseeing the country's economic rise.

The 7.6 percent expansion in the second quarter from the year before, while still impressive compared with most countries, marked the sixth straight three-month period of slowing growth for China.

It was the country's worst performance since the world economic crisis of 2008-2009. Global problems, including the eurozone debt crisis, sapped China's economy in the April-June quarter.

Officials have taken various steps to boost growth, including the rare move of slashing interest rates twice within a month. They have also lowered the amount of funds banks must keep in reserve, in a bid to spur lending.

Wen further warned that international demand for Chinese products could continue to slip, while the global economic slowdown could last "a very long time", the report said.

"We must also clearly see that the current functioning of the economy is facing difficulties and risks that cannot be underestimated," Wen said.

.


Related Links
The Economy






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








POLITICAL ECONOMY
Japan factory output in unexpected fall for June
Tokyo (AFP) July 30, 2012
Japan's factory output turned down unexpectedly last month, official data showed Monday, stoking concerns that turmoil overseas is damaging a recovery in the world's third-largest economy. The output decline came amid growing fears about the fiscal situation in Europe - a major market for Japanese products - and a strong yen hurting demand for products from the nation's factories. Indu ... read more


POLITICAL ECONOMY
Public strongly supports programs helping farmers adapt to climate change

Study: All chickens have Asian roots

Japanese Kobe beef debuts in Hong Kong

Isolated Paraguay pledged farmers' support

POLITICAL ECONOMY
Japan's Toshiba falls into quarterly net loss

World's smallest semiconductor laser created by University of Texas scientists

Switching the state of matter

New ultracapacitor delivers a jolt of energy at a constant voltage

POLITICAL ECONOMY
US man points laser at Navy pilots, faces 20 years in prison

US challenges EU with rival airline tax talks

Darker wings for monarch butterflies mean better flight

US challenges EU with rival airline tax talks

POLITICAL ECONOMY
Honda quarterly profit jumps fourfold to $1.7 bn

Nissan's profit down 15% on strong yen, Europe woe

Why Some Types Of Multitasking Are More Dangerous Than Others

Mechanical engineers develop an 'intelligent co-pilot' for cars

POLITICAL ECONOMY
Chinese bids welcomed in $42 bn Australian asset sale

BHP warns of spending cuts as China cools

Driven by China sales, luxury goods buck economic slowdown

China's advantages counteract rising pay: analysts

POLITICAL ECONOMY
Turkmenistan to plant huge forest in Aral Sea region

Taking Stock Of Georgia State Forests

Tropical arks reach tipping point

Forest carbon monitoring breakthrough in Colombia

POLITICAL ECONOMY
exactView-1 satellite operational in orbit

IGARSS begins in Munich

Digitalglobe And Geoeye Combine To Create A Global Leader

Lockheed Martin Marks Landsat 40th Anniversary

POLITICAL ECONOMY
A new era in modern analytical chemistry with Nano-FTIR

Entropy can lead to order, paving the route to nanostructures

Researchers Create Highly Conductive and Elastic Conductors Using Silver Nanowires

Silver nanoparticle synthesis using strawberry tree leaf




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement