Premier puts emphasis on quality
By Feng Jianmin |
April 14, 2012, Saturday
|
Print Edition
Print Edition
CHINA has plenty of room to adjust economic policies and will keep investment at "an appropriate level" with an emphasis on quality, Premier Wen Jiabao said yesterday after China reported its slowest economic growth in nearly three years.
His support for investment echoed remarks he made earlier this month during a visit to south China.
"The current economy is generally in a stable shape," Wen said at a meeting of the State Council, China's Cabinet. "The potential for economic development is huge, and macro-economic policies have large room for maneuver."
He vowed to improve policy flexibility, expand domestic consumption, and maintain a proper level of investment.
"We should ensure capital supply for major construction projects ... break monopolies, lift entry thresholds, and activate private funds," Wen said.
He pointed out challenges including inflationary pressure and reiterated a resolution to control prices and the property market.
Shen Jianguang, chief economist with Mizuho Securities Asia, said: "We are still in the middle of a global financial crisis. With China's exports slowing significantly and retail sales stable, investment is certainly a guarantee for economic growth."
In a separate document released yesterday, the central bank said it had slashed reserve requirements for some urban banks by 1 percent to support lending for agricultural projects.
His support for investment echoed remarks he made earlier this month during a visit to south China.
"The current economy is generally in a stable shape," Wen said at a meeting of the State Council, China's Cabinet. "The potential for economic development is huge, and macro-economic policies have large room for maneuver."
He vowed to improve policy flexibility, expand domestic consumption, and maintain a proper level of investment.
"We should ensure capital supply for major construction projects ... break monopolies, lift entry thresholds, and activate private funds," Wen said.
He pointed out challenges including inflationary pressure and reiterated a resolution to control prices and the property market.
Shen Jianguang, chief economist with Mizuho Securities Asia, said: "We are still in the middle of a global financial crisis. With China's exports slowing significantly and retail sales stable, investment is certainly a guarantee for economic growth."
In a separate document released yesterday, the central bank said it had slashed reserve requirements for some urban banks by 1 percent to support lending for agricultural projects.
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