M******8
发帖数: 10589 | 1 http://www.ft.com/cms/s/0/03377ccc-16e0-11e3-9ec2-00144feabdc0.
China will stay the course on sustainable growth
By Li Keqiang
Asian countries have enhanced their capabilities to fend off risks, writes
Li Keqiang
©Getty
Five years on from the start of the financial crisis, many countries now
face new challenges as the world economy slowly recovers.
The Summer Davos Forum, which opens this week in Dalian, will be closely
watched for signs of the state and strength of the Chinese economy, which
finds itself at a crucial stage of transformation.
Observers ask whether China’s economic slowdown will lead to a sharp
decline – or even a hard landing – and whether our reform programme will
be derailed by complex social problems. My answer is that our economy will
maintain its sustained and healthy growth and China will stay on the path of
reform and opening up.
Shortly after it took office in March, the new Chinese government made clear
its policy was to sustain economic growth, improve people’s wellbeing and
promote social equity. We can no longer afford to continue with the old
model of high consumption and high investment. Instead, we must take a
holistic approach in pursuing steady growth, structural readjustment and
further reform.
Reform remains the driving force. We will continue to streamline government
and delegate power, press ahead with structural changes and grow economic
sectors under diverse ownership. Government will leave to the market and
society what they can do well while concentrating on those matters within
its purview.
We will advance reforms of administrative management, fiscal and tax systems
, financial sectors and pricing. The theme of this year’s Summer Davos
Forum is “Meeting the Innovation Imperative”. To me this means not only
technological but more importantly institutional innovation, and reform is
also a way of innovation.
Opening up at a faster pace gives impetus to development. We will continue
to support the Doha round of World Trade Organisation talks, work for the
signing of bilateral free trade agreements, upgrade the China-Asean Free
Trade Area, and provide a level playing field and a better legal environment
for foreign investors. We will explore new ways to open China to the
outside world, and Shanghai’s pilot free-trade zone is a case in point.
A key focus is the expansion of domestic demand. Here China enjoys one great
advantage: its 1.3bn people are keen to work hard in pursuit of a better
life and make up a huge domestic market. We will expand consumer demand
through initiatives such as the promotion of the IT sector through the
expansion of broadband and 4G licences.
While focusing on consumption, we will keep a reasonable scale of investment
with priority given to energy conservation, environmental protection,
railway projects in the central and western regions, and municipal
facilities.
Urbanisation also offers huge potential for long-term domestic demand. Of
the people living in the countryside, more than 100m are set to be absorbed
into cities over the next decade or so. This will be an extremely complex
process of economic and social change, requiring a new policy approach aimed
at balanced development. There will be many difficulties, but it is what we
must accomplish in order to narrow the urban-rural gap.
The service sector will be an increasingly important pillar of our economy.
As the biggest job provider, the sector helps ease employment pressure in
economic transformation. The government will improve public services. This
year, we have suspended value added tax and sales tax on many small
businesses, the majority of which are in the service sector.
Our government has defined the “upper and lower limits” of the reasonable
range of economic performance with a view to avoiding excessive fluctuations
. With a gross domestic product growth rate of around 7.5 per cent, the “
lower limit” is intended to ensure steady growth and employment. The
moderation of economic growth from double-digit figures in the past to 9.3
per cent in 2011, 7.7 per cent in 2012 and then to around 7.5 per cent this
year, is the result of both natural economics and our readjustment
initiatives.
With the consumer price index at around 3.5 per cent, the “upper limit” is
meant to prevent inflation. If our economy is kept within this reasonable
range and financial risks are effectively forestalled, markets and society
will have stable expectations. This year there has also been steady economic
progress. In the first half of this year, GDP grew by 7.6 per cent year-on-
year. Surveyed unemployment at around 5 per cent and inflation at 2.4 per
cent are both within the reasonable and manageable range. However, global
uncertainties remain.
The anticipation of the withdrawal of quantitative easing by some major
developed countries has led to a massive influx of capital back to developed
markets and big fluctuations on the stock and currency markets in many
Asian countries.
Some observers even worry about a repeat of the Asian financial turmoil of
the late 1990s.
In my view, Asian countries have learnt the lessons from the past and
significantly enhanced their capabilities to fend off risks. Thanks to more
flexible exchange rate regimes, stronger foreign exchange reserves, the
Chiang Mai Initiative Multilateralisation agreement – a currency swap
arrangement – and various bilateral financial arrangements, China is
confident that Asian countries are now better placed to cope.
China is still a developing country with a myriad of tasks and challenges.
Yet as China’s national strength grows steadily, it will assume greater
responsibilities and obligations in international affairs commensurate with
its own conditions. We will work with other countries to promote global
peace and development. I look forward to the day when the world economy
returns to good health. In the meantime, the upgrading of the Chinese
economy will give fresh impetus to the global economy.
The writer is the premier of China | h***f
发帖数: 4541 | 2 和汪大海一样，见到娘家人比谁都亲，也不顾形象了，咬牙放屁吧唧嘴抠脚丫子，样样
都来 | y*h
发帖数: 25423 | 3
How may I help you, sir? 地道伦敦腔，你不懂的。
【在 h***f 的大作中提到】
: 和汪大海一样，见到娘家人比谁都亲，也不顾形象了，咬牙放屁吧唧嘴抠脚丫子，样样
: 都来
|
|
