Tough challenges ahead
By Feng Jianmin |
February 2, 2012, Thursday
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Print Edition
Print Edition
CHINA'S economy will grow slower, it is likely to find it tough to adjust its economic structure, and inflationary pressure is set to linger, Finance Minister Xie Xuren said yesterday.
He also warned exporters will confront increasing risks as a result of lower overseas demand.
"As external demand is now clearly fading, Chinese exporters are facing increasing difficulties," he said in remarks published yesterday.
Xie also pointed out that weakening consumption power may threaten economic growth while warning that a possible slower increase in crop output, high pollution industries and restrictions on innovation are likely to hurt China's economic reform.
Although domestic inflation will be slower this year compared with 2011, fluctuations in commodity prices and easy monetary policies globally may still drive prices higher, he added.
Xie reiterated that China should maintain measures, such as cutting import duties, accelerating tax cuts for small companies and the service sector and increasing people's income, and invest in affordable housing, agriculture, environment protection and high technology to ensure the economy continue to expand.
He also warned exporters will confront increasing risks as a result of lower overseas demand.
"As external demand is now clearly fading, Chinese exporters are facing increasing difficulties," he said in remarks published yesterday.
Xie also pointed out that weakening consumption power may threaten economic growth while warning that a possible slower increase in crop output, high pollution industries and restrictions on innovation are likely to hurt China's economic reform.
Although domestic inflation will be slower this year compared with 2011, fluctuations in commodity prices and easy monetary policies globally may still drive prices higher, he added.
Xie reiterated that China should maintain measures, such as cutting import duties, accelerating tax cuts for small companies and the service sector and increasing people's income, and invest in affordable housing, agriculture, environment protection and high technology to ensure the economy continue to expand.
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