Chinese economy endeavors to maintain stable growth
Editor: 管理员 Date:2014-02-21 Hit:2753
%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20Chinese%20economy%20endeavors%20to%20maintain%20its%20trend%20of%20stable%20growth%20while%20facing%20an%20uncertain%20global%20economy%20and%20a%20long%20road%20to%20transforming%20itself.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ESome%20experts%20are%20prudently%20optimistic%20about%20prospects%20for%20the%20Chinese%20economy%2C%20while%20others%20have%20expressed%20their%20concerns.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EOfficial%20data%20shows%20China%27s%20foreign%20trade%20reached%20382.4%20billion%20U.S.%20dollars%20in%20January%2C%20up%2010.3%20percent%20from%20the%20previous%20year.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20manufacturing%20purchasing%20managers%27%20index%20retreated%20to%2050.5%20percent%20in%20January%2C%20a%20low%20last%20seen%20in%20August%202011%20though%20still%20above%20the%2050-point%20level%20that%20demarcates%20growth%20and%20contraction.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%27s%20consumer%20price%20index%2C%20however%2C%20remained%20flat%20at%202.5%20percent%20year-on-year%20in%20January%2C%20a%20month%20when%20people%20usually%20shop%20before%20the%20Chinese%20lunar%20new%20year%2C%20which%20started%20on%20Jan.%2031%20this%20year.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20International%20Monetary%20Fund%20estimated%20recently%20that%20the%20Chinese%20economy%20would%20increase%20by%207.5%20percent%20and%207.3%20percent%20in%202014%20and%202015%20respectively%2C%200.3%20percentage%20points%20and%200.2%20percentage%20points%20up%20from%20its%20previous%20forecast.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EJoydeep%20Mukherji%2C%20managing%20director%20for%20sovereign%20ratings%20at%20Standard%20and%20Poor%27s%2C%20said%20in%20January%20the%20rating%20agency%20would%20not%20change%20its%20rating%20on%20China%27s%20sovereign%20debt%20after%20China%27s%20latest%20estimation%20showed%20growth%20in%20liabilities%20directly%20carried%20by%20governments%20at%20various%20levels.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EIf%20the%20Chinese%20economy%20grows%20by%207.5-8%20percent%2C%20its%20capacity%20to%20service%20the%20debt%20was%20extremely%20strong%2C%20Mukherji%20said%2C%20voicing%20his%20confidence%20the%20growth%20engine%20of%20the%20world%27s%20second%20largest%20economy%20was%20still%20good.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22As%20long%20as%20growth%20is%20there%2C%20the%20%28Chinese%29%20government%20would%20have%20the%20money%20to%20pay%20for%20all%20their%20debt%20one%20way%20or%20another%2C%20whether%20local%20government%20debt%20or%20its%20own%20debt%2C%20because%20the%20money%20is%20coming%20in%2C%22%20Mukherji%20said.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EShen%20Jianguang%2C%20chief%20economist%20with%20Mizuho%20Securities%2C%20said%20the%20inflow%20of%20capital%20from%20emerging%20markets%20and%20a%20large%20space%20for%20the%20renminbi%27s%20appreciation%20might%20blow%20bigger%20bubbles%20in%20China%27s%20housing%20market.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EOfficials%20of%20China%27s%20State%20Administration%20of%20Foreign%20Exchange%20said%20risks%20for%20the%20inflow%20and%20outflow%20of%20hot%20money%20coexist%20in%202014.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EMa%20Jiantang%2C%20commissioner%20of%20the%20National%20Bureau%20of%20Statistics%20%28NBS%29%20of%20China%2C%20said%20the%20trend%20for%20the%20Chinese%20economy%20would%20not%20change%20much%20as%20long%20as%20China%20continued%20to%20promote%20urbanization%2C%20industrialization%2C%20informatization%20and%20agricultural%20modernization.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EDuring%20this%20process%2C%20Ma%20said%2C%20massive%20demand%20for%20investment%20and%20consumption%20would%20be%20created%20and%20efficiency%20of%20supply%20would%20be%20improved.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20NBS%20said%20China%27s%20economy%20grew%207.7%20percent%20in%202013%2C%20the%20same%20as%202012%2C%20overshooting%20the%20government%20target%20of%207.5%20percent%2C%20and%20gross%20domestic%20product%20totalled%209.3%20trillion%20U.S.%20dollars.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20Chinese%20economy%20can%20maintain%20stable%20growth%20thanks%20to%20a%20good%20environment%20brought%20by%20its%20peaceful%20development%20policy%20abroad%20and%20the%20reform%20and%20opening-up%20policy%20at%20home.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EHowever%2C%20no%20tangible%20results%20had%20been%20achieved%20since%20China%20called%20for%20transforming%20the%20economic%20growth%20mode%20nearly%20two%20decades%20ago%2C%20Chinese%20economist%20Wu%20Jinglian%20said%2C%20highlighting%20that%20marketization%20would%20make%20a%20breakthrough%20in%20China%27s%20economic%20transformation.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EJoachim%20Fels%2C%20Morgan%20Stanley%27s%20chief%20international%20economist%2C%20warned%20China%27s%20transition%20from%20export-%20and%20leverage-driven%20growth%20to%20consumption-%20and%20reform-driven%20growth%20could%20turn%20out%20to%20be%20more%20tricky%20in%20the%20near%20term%2C%20mainly%20because%20financial%20conditions%20had%20tightened%20considerably%2C%20as%20evidenced%20by%20higher%20money%20market%20rates%20and%20bond%20yields.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EHow%20to%20ensure%20the%20implementation%20of%20reform%20measures%2C%20promote%20comprehensive%20reform%2C%20change%20the%20current%20structure%20of%20interests%20while%20coordinating%20effectiveness%20and%20fairness%2C%20are%20the%20issues%20facing%20Chinese%20policy-makers.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%3CBR%3E%28China%20Economic%20Net%29%3CBR%3E%3C/FONT%3E%3C/P%3E
