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Gao Xianhai
NPC deputy, Mayor of Nanchong, Sichuan Province (LAN XINZHEN) | Premier Wen's report this year is quite rational, setting the target of economic growth this year at 7.5 percent. This comes from the government's proper analysis of the situation and fully reflects the confidence and resolution of the Central Government. To appropriately slow down the economic growth speed is conducive to balancing relations between supply and demand, to alleviating pressures on resources and environment and to easing the tension of high prices. It will also improve the quality of China's economic growth.
The Chinese economy now faces plethora pressures, both internally and externally, such as the economic recession in Europe and the United States, slowdown of China's exports, unbalanced domestic economic structure and high employment pressures. Hence, to slightly lower the target for economic growth conforms to the changes of both the domestic and international economy.
It is easier to maintain steady economic development, but to promote a robust growth we have to rely on consumer demand. The government work report sets expanding domestic demand, particularly consumer demand, as one of the focuses this year, indicating that there will be significant adjustments on the economic growth pattern, including thoroughly changing the past situation of relying on investment and exports to drive economic development and strengthening the role of domestic demand. From the report we can expect that the Central Government will issue powerful policies this year to stimulate domestic demand.
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Wang Yongzheng
CPPCC National Committee member, President of Yongzheng Tailor Shop Group Co. Ltd. |
The government work report proposes increasing credit support to enterprises, especially small and micro-businesses, whose operations are in line with industrial policies and whose products are in high demand. I think the government should adopt various measures to ease the financing difficulty of small and micro-enterprises.
To solve the financing difficulties of small and micro-enterprises, we should turn to the banks. Banks should be classified with differentiated policies: Now that it is difficult for large banks to support small and micro-enterprises, the government should grant favorable policies to small banks in taxation, credit scale and internal control to inspire them to grant loans to small and micro-enterprises, and the increased costs can be made up for by government favorable policies such as tax cut.
Private lending should also be incorporated into the legal system to satisfy the credit demand of small and micro-enterprises. At present many people are in lack of investment channels, since returns from portfolio investment are low. Opening and regulating private lending will be a good way out for private funds.
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