Experts: Economic work meeting to guide direction
http://news.xinhuanet.com/english/2009-12/07/content_12602875.htm
BEIJING, Dec. 7 -- China is expected to fine-tune its macroeconomic
policies, one year after it launched the massive 586 billion U.S.
dollars stimulus package to save the economy from the worst global
financial crisis since the 1930s.
A government conference to lay the groundwork for the country's
economic policies not only for 2010 but for the next five years may
wrap up today, according to media reports.
Decisions made at the central economic conference, which began on
Saturday, will influence policies next year, the last year of the 11th
five-year plan (2006-2010), and guide directions in policy for the
next five-year plan.
No details of the conference have been released.
However, experts said a Nov. 27 meeting could set the tone for the
conference.
That meeting concluded with officials broadly stating that China
will "maintain the continuity and stability of economic policies, and
continue to implement the proactive fiscal policy and loose monetary
policy".
The issues most likely to be high on the conference agenda include
how the government will improve the quality of growth, speed up
economic restructuring and boost domestic consumption.
China's gross domestic product (GDP) grew by 8.9 percent year-on-
year in the third quarter and GDP growth for the year is expected to
exceed 8 percent, government statistics showed.
To boost economic growth, the government must support policies
that increase the income of residents, tackle healthcare reform and
invest more in education, experts said.
The stimulus package has played the most important role in
reviving the economy, but it also made the economic growth more
reliant on investment, said Liu Manping, a researcher at a price
monitoring institute under the National Development and Reform
Commission, the country's top economic planning body.
"China should gradually and moderately adjust its macro policies
to avoid any huge impact on economic growth," he said.
Jia Kang, director of the Research Institute for Fiscal Science at
the Ministry of Finance, said that "the government may perhaps change
its policies in the industrial sectors because of overcapacity and the
increasingly ballooning property industry".
Fluctuating prices in the housing market may ease in the second
quarter of next year if monetary policies are adjusted, said Wang
Zhihao, an economist with Standard Chartered Bank.
During a visit to a number of low-income housing projects on Nov
28, Premier Wen Jiabao said the government should curb speculation in
the housing market.
On 7 dic, 15:20, xi <xieu.l...@gmail.com> wrote:
> My comment: Although final decission is to be take by government, it
> never opposes what is decided in this meeting. Therefore its
> conclusions is what China will do in the economic field in 2010.
>
> Finally it seems that long term is going to weigh as much as short
> term. As I told I fully agree with that policy for 2010. Chinese, and
> more in particular workers above 30 years old, will benefit of this
> policy.
>
> China to continue fiscal and monetary policies next
> yearhttp://news.xinhuanet.com/english/2009-12/07/content_12604267.htm
>
> BEIJING, Dec. 7 (Xinhua) -- China would continue to adopt the
> proactive fiscal policy and moderately easy monetary policy next year
> and endeavor to improve the economic growth quality, according to the
> Central Economic Work Conference Monday.
>
> Chinese President Hu Jintao and Premier Wen Jiabao addressed the
> meeting, which is held once a year to set the tone for economic
> development during the next year.
>
> It was agreed at the conference that 2010 is the last year in the
> counry's 11th five-year plan, and to do a good job in the country's
> economic and social development next year was of great importance to
> dealing with the impact of the international financial crisis
> successfully in an all-around way and laying a sound foundation for
> China's 12th five-year plan.
>
> More efforts would be made to promote the transformation of the
> economic development pattern and structural adjustments and to enhance
> the focus and flexibility of economic policy in the following year in
> line with new situations next year, according to the attendees of the
> meeting.
>
> More efforts would also be laid on reform and opening-up,
> innovation, enhancing the vigor and momentum of the economic growth,
> improving people's livelihood, maintaining social harmony and
> stability, said participants of the conference.
>
> It was agreed at the meeting that a good balance should be kept in
> maintaining a relatively fast and stable economic growth, economic
> restructuring and dealing with predicted inflation next year.
>
> The government would strengthen financial support to sectors including
> farming, science and technology, education, health care, social
> security, affordable homes, energy saving and environmental protection
> in 2010, according to participants of the conference.
>
> The country would tightly control loans targeted at high energy-
> consuming, high polluting industries and those with excessive
> production capacity in a bid to improve loans quality and efficiency,
> according to the meeting.
>
> The Central Economic Work Conference comprises policy-making
> officials from central and provincial-level governments.
>
> More: China vows to promote transformation of development pattern in
> 2010http://news.xinhuanet.com/english/2009-12/07/content_12604298.htm
>
> Peace and best wishes.
>
> Xi
>
> On 5 dic, 18:33, xi <xieu.l...@gmail.com> wrote:
>
>
>
> > My comment: The world are living crucial times nowadays. We all are
> > shaping a new economic model in substitution of the Bretton Woods
> > model. Some of the main features and trends of this new model are
> > sustainability, simultaneous self-sufficiency and cooperation and
> > balance between North and South (developed and developing economies).
> > For most countries across the globe the key point that will determine
> > its growth or decline is how quick and smooth each economy will adapt
> > itself to this new structure.
>
> > China started in early 2009 to adapt its economy to this new model. In
> > that sense 2009 was a succesful year. However very probably 2010 will
> > be the crucial year for the next one or two decades as we have to
> > finish in 2010 the basement of that new economy. In 2010 speed matters
> > as much as direction. To mind on both short term, 2010, and long term,
> > 2020, are equally important.
>
> > This meeting is probably the most important one of the first decade of
> > this century. And probably will be the most important one till 2019 or
> > 2020.
>
> > We arrive to this meeting with two proposals. Each one could be
> > denominated by different GDP growth for 2010. However, approaches are
> > different into each proposal.
>
> > The first one intends GDP growth slightly above 10% for 2010. It gives
> > priority to short term results in 2010. The second one intends GDP
> > growth between 8% and 9% by diverting more resources (those 2
> > perentage points between 8% and 10%) for education and fight against
> > inflation among other aims. I clearly supports the second one because
> > we do not require 10% growth and because this period till 2020 is
> > going to be windy, education and moderate prices will provide
> > flexibility to Chinese, and to everyone across the globe, to adapt
> > ourselves to this new model. Therefore, in my opinion, we should
> > minimise risks beyond 2010 as much as posible while we keep a
> > reasonable and natural pace of growth.
>
> > As main contributor to global growth, China faces an international
> > responsibility as 10% supporters tell. But that responsibility does
> > not end up in 2010. We also have to contribute to global growth beyond
> > 2010. The healthier our basement is the more we will be ready to
> > unwind risks in the near future. In that sense, among other priorities
> > to keep moderate price inflation and to prepare our society through
> > education much better for the future will avoid many future troubles.
>
> > Peace and best wishes.
>
> > Xi
>
> > China opens key economic work meeting, policies expected to
> > continuehttp://news.xinhuanet.com/english/2009-12/05/content_12593210.htm-
> > Ocultar texto de la cita -
>
> - Mostrar texto de la cita -
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