Arab Today, arab today china\s promises to boost economy
Last Updated : GMT 05:17:13
Arab Today, arab today
Arab Today, arab today

China\'s promises to boost economy

Arab Today, arab today

Arab Today, arab today China\'s promises to boost economy

Beijing - AP

China\'s Cabinet promised Wednesday to step up efforts to reverse a steep slowdown in the world\'s second-largest economy and said it would encourage private investment in energy and other state-dominated industries. Chinese leaders have gradually eased controls imposed over the past two years to cool an overheated economy and inflation. But some analysts warn they need to move faster as global demand and Chinese consumer spending weaken. Economic growth fell to a nearly three-year low of 8.1 percent in the first quarter and factory output in April grew at its slowest pace since the 2008 crisis, raising the threat of job losses and possible political tensions. \"Downward pressure on the economy is increasing,\" said a statement issued after a Cabinet meeting led by Premier Wen Jiabao, the country\'s top economic official. It said Beijing will \"maintain stability\" in policy but promised changes to spur domestic demand. \"It looks like Chinese policy makers are finally getting worried,\" said Credit Agricole CIB economist Dariusz Kowalczyk in a report. \"It is high time given the potential negative consequences of the deepening debt crisis in Europe.\" Beijing has tried to pump money into the economy by easing credit controls but Chinese media say bank lending has barely grown this month compared with a year earlier. That suggested companies were delaying investment due to uncertainty about the economic outlook. The World Bank warned other Asian governments on Wednesday they need to boost their own domestic demand to offset the impact of China\'s slowdown and weakness in Europe and the United States. The bank said exporters of oil and other commodities such as Indonesia that have benefited from China\'s boom are \"especially vulnerable.\" Wen signaled the government\'s intentions last weekend by promising to give \"more priority\" to maintaining growth. Wednesday\'s statement promised to expand private investment in state-dominated fields such as energy, telecommunications and railways but gave no details. The World Bank and others have warned Beijing needs to scale down the dominance of state companies in a wide array of industries and promote free-market competition to keep incomes growing and avoid financial problems. Analysts expect Chinese leaders to move more cautiously than they did in response to the 2008 crisis. Then, a 4 trillion yuan ($586 billion) stimulus helped China rebound quickly but fueled inflation and a wasteful building boom. The government has avoided talk of a possible new stimulus, instead stressing targeted measures such as spending more to build low-income housing. Real estate is traditionally a key driver of Chinese growth, pumping money into construction and other industries, but Chinese leaders have vowed to enforce curbs imposed to rein in surging housing costs. The Cabinet promised to support solar power, energy-saving products and affordable housing but gave no financial targets. \"The government is now ramping up its stimulus but the impact will come too late to stop this quarter\'s GDP growth rate falling further,\" said Capital Economics analysts Mark Williams and Qinwei Wang in a report.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china\s promises to boost economy Arab Today, arab today china\s promises to boost economy

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday