Xi confident that economy will not see a hard landing
Source: Xinhua |
August 20, 2011, Saturday
|
Print Edition
Print Edition
China's economy will not see a hard-landing but instead be stable with relatively fast growth, Vice President Xi Jinping said yesterday.
Xi was speaking at the US-China Business Dialogue, where US Vice President Joe Biden and entrepreneurs from China and the United States were present, including executives from General Motors Co, Coca-Cola Co, Caterpillar Inc, Bank of China Ltd, Lenovo Group and Haier Group.
China was confident and capable of maintaining stable economic growth, Xi said.
China will continue to utilize a proactive fiscal policy and prudent monetary policy, maintain continuity and stability in its macroeconomic policies and make those policies more targeted and flexible, Xi said.
China will properly handle the relationship between stable and relatively fast economic development, economic restructuring and inflation expectations.
"China will provide even greater business opportunities for American and other foreign companies, as China will import commodities worth more than US$8 trillion over the next five years," Xi said.
Benign competition
He called on Chinese and US businesses to work more closely in the energy, environmental protection, infrastructure, biomedicine and financial services sectors.
"The cooperative pattern that we started using three decades ago, which involved using funds and technology from the United States and labor and resources from China, has changed fundamentally," Xi said.
Although they frequently cooperate, Chinese and US businesses are still competitors, Xi said. "We believe that benign competition will generate mutual benefit," he added.
Xi reaffirmed the importance of mutual respect, equal consultation and proper handling in accordance with World Trade Organization rules. "China will give all businesses equal treatment when recognizing indigenous innovation and granting government contracts. We will create a good environment for all investors," Xi said.
He urged the US to remove trade and investment restrictions and to take action to relax limits on US's high-tech exports to China. He also asked the country to create a fair investment environment for Chinese businesses.
Biden acknowledged problems in US-China trade, calling for more candid discussions to tackle the issues. He said the US would like to work with China to facilitate market access and mutual investment.
Xi was speaking at the US-China Business Dialogue, where US Vice President Joe Biden and entrepreneurs from China and the United States were present, including executives from General Motors Co, Coca-Cola Co, Caterpillar Inc, Bank of China Ltd, Lenovo Group and Haier Group.
China was confident and capable of maintaining stable economic growth, Xi said.
China will continue to utilize a proactive fiscal policy and prudent monetary policy, maintain continuity and stability in its macroeconomic policies and make those policies more targeted and flexible, Xi said.
China will properly handle the relationship between stable and relatively fast economic development, economic restructuring and inflation expectations.
"China will provide even greater business opportunities for American and other foreign companies, as China will import commodities worth more than US$8 trillion over the next five years," Xi said.
Benign competition
He called on Chinese and US businesses to work more closely in the energy, environmental protection, infrastructure, biomedicine and financial services sectors.
"The cooperative pattern that we started using three decades ago, which involved using funds and technology from the United States and labor and resources from China, has changed fundamentally," Xi said.
Although they frequently cooperate, Chinese and US businesses are still competitors, Xi said. "We believe that benign competition will generate mutual benefit," he added.
Xi reaffirmed the importance of mutual respect, equal consultation and proper handling in accordance with World Trade Organization rules. "China will give all businesses equal treatment when recognizing indigenous innovation and granting government contracts. We will create a good environment for all investors," Xi said.
He urged the US to remove trade and investment restrictions and to take action to relax limits on US's high-tech exports to China. He also asked the country to create a fair investment environment for Chinese businesses.
Biden acknowledged problems in US-China trade, calling for more candid discussions to tackle the issues. He said the US would like to work with China to facilitate market access and mutual investment.
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