Subscribe free to our newsletters via your
. Earth Science 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
Sri Lanka navy urges Australia to deport boatpeople

Samurai festival returns to disaster-hit Japan

UNHCR official to visit Rakhine state

EU discusses new NGO law with Russia

POLITICAL ECONOMY
Quantifying the Environmental Impact of Structural Materials with B-PATH

Northrop Grumman GATOR Radar System Delivered to Wallops Island for the Start of Government Developmental Testing

Jury picked in blockbuster Apple-Samsung case

BELLA Laser Achieves World Record Power at One Pulse Per Second

POLITICAL ECONOMY
Delving into the molecular mechanism behind deep-sea bacteria's pressure tolerance

Scotland moves to defuse 'prawn war'

Ancient reservoir could bring water to dry Namibia

'Red tide' species is deadlier than first thought

POLITICAL ECONOMY
China to build first polar-expedition icebreaker

Hidden rift valley discovered beneath West Antarctica reveals new insight into ice loss

Scientists find Grand Canyon-sized rift under Antarctic ice

Tropical plankton invade Arctic waters

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
UN heads for flood-hit areas in North Korea

N. Korea forecasts new storm damage after deadly floods

Geothermal activity seen in New Zealand

Death toll from Beijing floods rises to 77: Xinhua

POLITICAL ECONOMY
Panetta to visit North Africa, Middle East

Brother of exiled Rwandan ex-army chief gets 9 years' jail

Mozambique told to tackle crime

New sapphire find sends panners into Madagascar lemur park

POLITICAL ECONOMY
Piglets in mazes provide insights into human cognitive development

Genomic study of Africa's hunter-gatherers elucidates human variation and ancient interbreeding

Unprecedented accuracy in locating brain electrical activity with new device

The longer you're awake, the slower you get




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