The Hot Zone
China's newly announced air defense identification zone over the East China Sea aims to shore up national security
Current Issue
· Table of Contents
· Editor's Desk
· Previous Issues
· Subscribe to Mag
Subscribe Now >>
Weekly Watch
Expert's View
Market Watch
North American Report
Government Documents
Expat's Eye
Photo Gallery
Reader's Service
Learning with
'Beijing Review'
E-mail us
RSS Feeds
PDF Edition
Reader's Letters
Make Beijing Review your homepage
Hot Links

cheap eyeglasses
Market Avenue

Meeting the Press
Cover Stories Series 2011> NPC & CPPCC Sessions Wrap-Up> Meeting the Press
UPDATED: March 21, 2011 NO. 12 MARCH 24, 2011
Premier Wen Meets the Press
Counter-financial crisis

The international financial crisis has exerted a huge impact on China.

It has exerted a big impact on the real economy. We may recall that between the end of 2008 and the first half of 2009, global trade tumbled by 26 percent, and Chinese exports also fell substantially. The Baltic Sea Crude Oil index once dropped to zero.

When I paid an inspection trip to a container port in Shenzhen, south China's Guangdong Province, the local manager told me not a single order had been received. At one point, China's GDP fell to as low as 3.8 percent in its growth. A large number of businesses had to close and a large number of migrant workers had to go back to their rural home.

It is under such tough circumstances that we adopted a stimulus package that has four key components. They include: A massive increase in government investment and structural tax cuts to restore business growth. Second, we improved the social security system in order to stabilize and improve people's livelihood. Third, we vigorously promoted science and technology advances to sustain the momentum of China's economic development. Fourth, we carried out massive structural adjustments in China's businesses, and in particular, encouraged the growth of strategic emerging industries.

All these stimulus measures were designed to not only address immediate problems, but also ensure China's long-term development.

I would like to say that a person who has not experienced difficulty would not be able to fully appreciate the gravity of the difficulty itself. It is with very hard efforts that we managed to make the Chinese economy one of the first in the world to achieve a recovery and rebound, and avoid serious setbacks in China's economic development. I think the achievements of China on this front have been widely recognized.

   Previous   3   4   5   6   7   8   9   10   11   Next  

Top Story
-Protecting Ocean Rights
-Partners in Defense
-Fighting HIV+'s Stigma
-HIV: Privacy VS. Protection
-Setting the Tone
Related Stories
-A New Chapter
-A Budget for the People
-Aiming for Quality Growth
-Setting Targets for 2011
Most Popular
About BEIJINGREVIEW | About beijingreview.com | Rss Feeds | Contact us | Advertising | Subscribe & Service | Make Beijing Review your homepage
Copyright Beijing Review All right reserved